On January 1, 2024, Desai Corporation had 100,000 shares of common stock outstanding and 10,000 shares of 10%, $100 par value noncumulative, nonparticipating preferred shares outstanding. The following transactions occurred during 2024: March 1: Reacquired 15,000 shares, accounted for as treasury stock. June 30: Sold 1,000 treasury shares. October 1: Sold 9,000 new shares for cash. December 31: Reported a net income of $355,500. The following transactions occurred during 2025: January 10: Declared and issued a 25% stock dividend. December 1: Declared and paid dividends of $200,000. December 31: Reported a net income of $555,800. Required: Calculate Desai's basic earnings per share for both years for presentation in comparative financial statements that will be prepared at the end of 2025