GoBank is a FinTech company, it is a Banking Ap. people helps you budget better, takes the stress out of spending abroad, and even lets people earn interest on your savings. In 2021, GoBank had a net income of $1,712,500.00. The company had 300 000 shares of $4 par value common stock and 25 000 shares of 8%, $100 par, preference stock outstanding throughout the year. Each share of preference stock is both cumulative and convertible. Each share of preference stock is convertible into four shares of common stock. Compute the following for 2021:

a. Basic Earnings per share?

b. The number of shares to be used in computing the diluted earnings per share

?