As part of its executive compensation plan, a company granted 66,000 of its no-par common shares to executives, subject to forfeiture if employment is terminated within three years. A company's common shares have a market price of $20 per share on January 1 , Year 1, the grant date of the restricted stock award, as well as on December 31, Year 2. 1,250,000 shares were outstanding at January 1, Year 2. Net income for Year 2 was $500,000. Required: Compute the company's basic and diluted earnings per share for the year ended December 31, Year 2. Note: Do not round intermediate calculations. Enter your answers in thousands (i.e., 10,000 should be entered as 10)