On January 1, 2014, Crocker Company issued 10-year, $3,124,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 20 shares of Crocker common stock. Crockers net income in 2014 was $327,000, and its tax rate was 40%. The company had 107,000 shares of common stock outstanding throughout 2014. None of the bonds were converted in 2014. (a) Compute diluted earnings per share for 2014. (Round answer to 2 decimal places, e.g. $2.55.) Diluted earnings per share $ (b) Compute diluted earnings per share for 2014, assuming the same facts as above, except that $1,070,000 of 6% convertible preferred stock was issued instead of the bonds. Each $100 preferred share is convertible into 5 shares of Crocker common stock