) Kansas Instruments reported $7,000,000 in net income for the current year $7,000,000 of 9% cumulative, preferred stock hon-convertible preferred stock outstanding all year, and $5,000,000 of convertible bonds. Each bond is convertible into 40 shares of common stock all year were 2,000,000. Required: Compute both basic and diluted EPS when the tax rate is 40%. (20 points)