On December 31, 2021 Bittan Corp.'s long term liabilities and stockholders' equity include: $5,000,000 of 6% bonds payable. The bonds are convertible into 55,000 shares of common stock. 250,000 shares of preferred stock issued and outstanding, $100 par, 5% dividend. 2,000,000 shares of common stock issued and outstanding, $2 par. 50,000 common stock options outstanding with an exercise price of $20.00. During 2022: 150,000 shares of common stock were repurchased for the treasury on April 1. Dividends of $5.00 per share were paid to preferred shareholders and $0.80 per share to common shareholders. Net income of $11,400,000 was reported on the income statement. Bittan's tax rate was 21%. The average price of Bittan's common stock was $24.00 per share. Required: Calculate Bittan's 2022 basic and diluted earnings per share. You must show your work for any partial credit, where earned, to be awarded