Ahnberg Corporation had 620,000 shares of common stock issued and outstanding at January 1. No common shares were issued during the year, but on January 1 Ahnberg issued 240,000 shares of convertible preferred stock. The preferred shares are convertible into 480,000 shares of common stock During the year Ahnberg paid $144,000 cash dividends on the preferred stock. Net income was $1, 570. 000 What were Ahnberg's basic and diluted earnings per share for the year? (Round your answers to 2 decimal places.)