Bonita Inc. had 502,000 common shares outstanding for the entire fiscal year ended August 31,2023 . Bonita also had 106,000$3 cumulative, no-par value preferred shares outstanding for the full year. Options were written at the start of the fiscal year to purchase 30,000 common shares at $17 per share. The average market price of Bonita's common shares during the year ended August 31, 2023 was $25 per share. The options expire in 2032 , and none were actually exercised during the current year. Also outstanding for the entire year was a 7% bond with a face value of $4,600,000, convertible to 115,000 common shares. Bonita Inc.'s net income for the year was $2,702,500, and the income tax rate for the fiscal year was 40%. (a) Your answer is correct. Calculate the income effect of the dividends on the preferred shares. Dividends on preferred shares $ eTextbook and Media Attempts: 1 of 3 used (b) Your answer is correct. Calculate basic earnings per share. (For simplicity, ignore the requirement to record the debt and equity portions of the convertible bond separately). (Round answer to 2 decimal places, e.g. 15.25.) Calculate basic earnings per share. (For simplicity, ignore the requirement to record the debt and equity portions of the convertible bond separately). (Round answer to 2 decimal places, e.g. 15.25.) Basic EPS \$ eTextbook and Media Attempts: 1 of c) Calculate the after-tax interest paid on the 7% bonds. After-tax interest on bonds converted $ Bonita Inc. had 502,000 common shares outstanding for the entire fiscal year ended August 31,2023 . Bonita also had 106,000$3 cumulative, no-par value preferred shares outstanding for the full year. Options were written at the start of the fiscal year to purchase 30,000 common shares at $17 per share. The average market price of Bonita's common shares during the year ended August 31, 2023 was $25 per share. The options expire in 2032 , and none were actually exercised during the current year. Also outstanding for the entire year was a 7% bond with a face value of $4,600,000, convertible to 115,000 common shares. Bonita Inc.'s net income for the year was $2,702,500, and the income tax rate for the fiscal year was 40%. (a) Your answer is correct. Calculate the income effect of the dividends on the preferred shares. Dividends on preferred shares $ eTextbook and Media Attempts: 1 of 3 used (b) Your answer is correct. Calculate basic earnings per share. (For simplicity, ignore the requirement to record the debt and equity portions of the convertible bond separately). (Round answer to 2 decimal places, e.g. 15.25.) Calculate basic earnings per share. (For simplicity, ignore the requirement to record the debt and equity portions of the convertible bond separately). (Round answer to 2 decimal places, e.g. 15.25.) Basic EPS \$ eTextbook and Media Attempts: 1 of c) Calculate the after-tax interest paid on the 7% bonds. After-tax interest on bonds converted $