On December 31,2020 , Jackson Company had 100,000 shares of common stock outstanding and 26,000 shares of 7%, $50 par, cumulative preferred stock outstanding. On February 28,2021 , Jackson purchased 15,000 shares of common stock on the open market as treasury stock for $26 per share. Jackson sold 5,100 treasury shares on September 30, 2021, for $28 per share. Net income for 2021 was $171,905. Also outstanding during the year were fully vested incentive stock options giving key executives the option to buy 41,000 common shares at $31. The market price of the common shares averaged $30 during 2021. Required: Compute Jackson's basic and diluted earnings per share for 2021. (Round your answers to 2 decimal places.)