Following are separate income statements for Amarillo, Incorporated, and its $80$ percent$-$owned subsidiary, Saltillo Corporation as well

as a consolidated statement for the business combination as a whole $($credit balances indicated by parentheses$).$

Additional Information

Annual excess fair over book value amortization of $$25,000$ resulted from the acquisition.

The parent applies the equity method to this investment.

Amarillo has $55,000$ shares of common stock and $5,000$ shares of preferred stock outstanding. Owners of the preferred stock are

paid an annual dividend of $$40,000,$ and each share can be exchanged for four shares of common stock.

Saltillo has $45,000$ shares of common stock outstanding.

Saltillo has convertible bonds outstanding, none of which Amarillo owned. During the current year, total interest expense $($net of

taxes$)$ was $$30,000.$ These bonds can be exchanged for $13,000$ shares of the subsidiary's common stock.

Required:

Determine Amarillo's basic and diluted EPS.

Note: Round your intermediate percentage value to $1$ decimal place. Round your final answers to $2$ decimal places.

$$ Answer is complete but not entirely correct.