on december 31 2017,illini co. had 100,000 shares of common stock outstanding and 30,000 shares of 7%. $ 100 par, cumulative preferred stock outstanding. on march 1,2018 illlini repurchased 24000 shares of comon stock on the open market as treasury stock. illini sold 6,000 of the treasury shares on sep 30 2018. net income for 2018 was $540,000. income tax rate was 40%.

also outstanding on dec 31 2017, were fully vested incentive stock options giving key personal the optiob to buy 50,000 common shares at $40. market price of common shares averaged $50 2018. five thousand 6% bonds were. issued jan 1 2018. each bond convertible into 125 shares of common stock

please conpute the basic & diluted earings per share for co. in 2018