On December 31, 2021, Sunland Co. had 218,500 common shares outstanding. The company also had outstanding a convertible bond with a face value of $98,500 that had been issued in 2015. The bond paid 6% interest per year and was convertible to 1,970 common shares. Sunland Co. had net income for 2021 of $1,092,500 and was subject to a 30% income tax rate. (For simplicity, ignore the requirement to record the debt and equity portions of the convertible bond separately). (a) Calculate basic earnings per share. (Round answer to 2 decimal places, e.g. 15.25.) Basic earnings per share $ LA