On December 31, 2014, Ashton Inc. had 100,000 shares of common, stock outstanding and 30,000 shares of 6% S50 par, cumulative preferred stock outstanding. On February 28, 2015, Ashton purchased 27,000 shares of common stock on the open market as treasury stock paying $46 per share. Ashton sold 9,000 of the treasury shares on September 30, 2015, for $44 per share. Net income for 2015 was $197,800. Also outstanding at December 31, 2014, were fully vested incentive stock options giving key personnel the option to buy 50,000 common shares at $41. These stock options were exercised on October 1, 2015. The market price of the common shares averaged $45 during 2015. Required: Compute Ashton's basic and diluted earnings per share (rounded to 2 decimal places) for 2015