Ashante Sports Collections Ltd. (ASCL) ended 205 with 820,000 common shares outstanding, after issuing 240,000 common shares for cash on 31 December. The tax rate is 40%. There were no other common share transactions during the period. Net earnings were $1,360,000. The following elements are part of ASCL's capital structure: a. ASCL had $5,600,000 (par value) of 6% bonds payable outstanding during the year. The bonds are convertible into 80 common shares for each $1,000 bond. Bond interest expense was $409,000 for the year. b. ASCL had 46,000 options outstanding throughout 205 to purchase 180,000 common shares for $9 per share. The average share price during the year was $21. The options were not exercisable until 2010. c. ASCL had 76,000,$1.85 preferred shares outstanding. The shares were cumulative. No dividends were declared in 206. The shares were convertible into 56,000 common shares. d. ASCL had a contingent share agreement outstanding to issue 56,000 common shares to the prior shareholders of a company that ASCL had acquired in 202. The shares become issuable if the acquired company's operations accumulate $5,600,000 of postacquisition earnings before the end of 208. Earnings have been $3,560,000, to date, and the target is expected to be met in 207. e. ASCL had $8,600,000 (par value) of 5% bonds payable, issued on 31 March 205. The bonds are convertible into 40 common shares for each $1,000 bond. Bond interest expense was $288,750 for the 9 months of the year that the bond was outstanding. Required: Compute basic and diluted EPS for 20X5. (Do not round intermediate calculations. Round your answers to 2 decimal places.)