Computing EPS with Multiple Potentially Dilutive Securities Spencer Inc.'s earnings of $1,750,000 reflect a tax rate of 25%. During the year, Spencer had the following securities outstanding: 360,000 shares of common stock. 15,000 shares of 6%,$100 par, nonconvertible, cumulative preferred stock. 15,000 shares of 6%,$100 par, cumulative preferred stock, each convertible into 1.75 shares of common stock. 1,500 bonds, $1,000 face value, 8% interest, each convertible into 30 shares of common stock (issued at face value). 600 bonds, $1,000 face value, 6\% interest, each convertible into 20 shares of common stock (issued at face value). Required a. Compute basic EPS. b. Compute diluted EPS. Note: Enter the earnings per share amounts in dollars and cents, rounded to the nearest penny