Current Attempt in Progress Crane Corporation issued $5 million of 10-year, 6% callable convertible subordinated debentures on January 2,2023 . The debentures have a face value of $1.000. with interest payable annually. The current conversion ratio is 14:1, and in two years it will increase to 18:1. At the date of issue, the bonds were sold at 100 to yield a 6% effective interest rate. The bond discount is amortized using the effective interest method. Crane's effective tax rate was 35%. Net income in 2023 was $7.7 million, and the company had 2 million shares outstanding during the entire year. For simplicity, ignore the requirement to record the debentures' debt and equity components separately. (a) Calculate basic earnings per share. (Round answers to 2 decimal places, eg. 15.25.) Basic earnings per share Attempts: 0 of 1 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above