During 20X1, Discolux Ltd. had two classes of shares outstanding: . Class A preferred shares, 3,000 shares issued and outstanding at the beginning of the year, quarterly dividend rate of $250 per share, cumulative; each share is convertible into 50 shares of Class B common. Class B common shares, 161,000 shares issued and outstanding at the beginning of the year. Also assume the following: Net income for the year is $3,400,000; there are no discontinued operations, . 700 shares of Class A were converted into 35,000 Class B shares on 1 April 20X1; dividends for the first quarter of the year were paid on 30 March 20X1. Options to issue 15,000 common shares to senior executives for $5 per share were outstanding during the entire year. No options were exercised during the year. The average share price during the year was $10. Required: 1. Determine the weighted average number of shares outstanding during 20X1. . Weighted average number of shares 2. Determine basic EPS. (Do not round Intermediate calculations and round your answer to 2 decimal places.) Base ESP 3. Determine diluted EPS.(Do not round intermediate calculations and round your answer to 2 decimal places) Diluted EPS