On December 31, 2017, Jackson Company had 100,000 shares of common stock outstanding and 33,000 shares of 6%, $50 par, cumulative preferred stock outstanding. On February 28, 2018, Jackson purchased 27,000 shares of common stock on the open market as treasury stock for $38 per share. Jackson sold 6,300 treasury shares on September 30, 2018, for $40 per share. Net income for 2018 was $183,905. Also outstanding during the year were fully vested incentive stock options giving key personnel the option to buy 53,000 common shares at $43. The market price of the common shares averaged $42 during 2018. Required: Compute Jackson's basic and diluted earnings per share for 2018?