Garcia Stamping began the current year with $410,000$ common shares outstanding and issued an additional $240,000$

shares on April $1.$ The firm has $$11,400,000,1\mathrm{.}5\%$ convertible bonds outstanding for a full year $($i$.$e$.,$ $$171,000$ coupon

interest per year$),$ which are convertible into $331,000$ shares of common stock. The firm issued the bonds at par and

did not convert any during the current year. It also had $$1,160,000$ par value, $4\%$ nonconvertible, noncumulative

preferred stock outstanding for the full year and declared dividends for the current year. The company is subject to a

$40\%$ tax rate and net income is $$4,300,000.$

Requirement

Based on this information, compute basic and diluted earnings per share for the current year. Round both the basic earnings per share and diluted earnings per share to the nearest cent.