Concord Inc. had $509,000$ common shares outstanding for the entire fiscal year ended August $31,2023.$ Concord also had $105,000$ $$2$

cumulative, no$-$par value preferred shares outstanding for the full year. Options were written at the start of the fiscal year to purchase

$32,000$ common shares at $$15$ per share. The average market price of Concord'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 $$4,620,000,$ convertible to $105,000$ common shares. Concord Inc.$\text{'}$s net income for

the year was $$2,704,100,$ and the income tax rate for the fiscal year was $40\%.$ Calculate basic earnings per share.