Assume that the following data relative to Metro Co. for 20x1 is available: Net Income (30% tax rate): $3,200,000 Transactions in common shares 1/1 Beginning number 1,000,000 shares 3/1 Purchase of treasury shares (60,000) 6/1 Stock split, 2 for 1 11/1 Issuance of shares 120,000 9% cumulative convertible preferred stock Sold (in 20x0) at par, convertible into 200,000 shares of common $1,000,000 Stock options Exercisable at the option price of $25 per share. Average market price in 20x1 is $30. 60,000 shares Compute the basic and diluted EPS for 20x1