During $2020,$ Stewart, Inc. had the following convertible securities outstanding:

A$.$ $$220,000$ of $10\%,$ $$100$ par, cumulative preferred stock. Each share is convertible into $5$ shares of common stock.

B$.$ $$200,000$ of $9\mathrm{.}5\%$ convertible bonds. Each $$1,000$ bond is convertible into $45$ shares of common stock.

C$.$ $$100,000$ of $8\%$ convertible bonds. Each $$1,000$ bond is convertible into $32$ shares of common stock.

D$.$ $$150,000$ of $11\%,$ $$100$ par, cumulative preferred stock. Each share is convertible into $5$ shares of common stock.

Stewart, Inc. has an income tax rate of $40\%.$ Its reported net income for $2020$ was $$88,000,$ and it had $22,000$ shares of common stock outstanding all year.

$$Calculate basic and diluted earnings per share for Stewart.