ii. Talbot plc has in issue 5,000,000 $0.50 ordinary shares throughout 20X3. During 20X1 the company had given certain senior executives options over 400,000 shares exercisable at $1.10 at any time after 31 May 20X4. The average market value of one ordinary share during the period was $1.60. Talbot plc had made a profit after tax of $540,000 in 20X3. Required Calculate the basic and diluted earnings per share for the year ended 31 December 20X3