On December 31, 2015, Brisbane Company had 100,000 shares of common stock outstanding and 32,000 shares of 7%, $50 par, cumulative preferred stock outstanding. On February 28, 2016, Brisbane purchased 26,000 shares of common stock on the open market as treasury stock paying $42 per share. Brisbane sold 6,200 treasury shares on September 30, 2016, for $47 per share. Net income for 2016 was $182,905. Also outstanding during the year were fully vested incentive stock options giving key personnel the option to buy 52,000 common shares at $42. The market price of the common shares averaged $52 during 2016. Required: Compute Brisbane's basic and diluted earnings per share for 2016. (Round your answers to 2 decimal places.)