(Computation of Basic and Diluted EPS The information below pertains to Payson Company for 2015 There were no changes during 2015 in the number of common shares, preferred shares, or convertible bonds outstanding. There is no treasury stock. The company also has common stock options (granted in a prior year) to purchase 120,000 shares of common stock at $12 per share. Instructions (a) Compute basic earnings per share for 2015. (b) Compute diluted earnings per share for 2015