On December 31, 2020, Shenandoah Company had 100,000 shares of common stock outstanding and 35,000 shares of 6%, $50 par, cumulative preferred stock outstanding. On February 28, 2021, Shenandoah purchased 29,000 shares of common stock on the open market as treasury stock paying $45 per share. Shenandoah sold 6,500 treasury shares on September 30, 2021, for $50 per share. Net income for 2021 was $185,905. Also outstanding during the year were fully vested incentive stock options giving key officers the option to buy 55,000 common shares at $45. The market price of the common shares averaged $55 during 2021. Required: Compute the company's basic and diluted earnings per share for 2021, (Round your answers to 2 decimal places.) Basic Diluted Earnings per share