Gorilla Glue Company reported Net Income of $15,900 for 2017. Assuming a tax rate of 30% and the following detail regarding their capital structure, calculate both Basic & Diluted EPS for 2017.

1) 9.2% convertible bonds: $25,000 outstanding for the entire year. The bonds were issued at $23,750, a price that yielded 9.68% at issuance. The original issue discount is being accreted into income at the rate of $50 per year. Each $1,000 bond is convertible into 45 shares of common stock.