PART C: The following scenario relates to question 7. The issued share capital of Trinity Ltd (Trinity) on 1 April 2019 was: 12 million ordinary shares $3 million 1 million 8% irredeemable cumulative preference shares $1 million The company also has in issue $2 million 7% convertible loan stock before 1 April 2019. The loan stock can be redeemed at par in 2022 or converted into ordinary shares on the basis of 40 new shares for each $100 of loan stock at the option of the loan stock holders. The liability component of the convertible loan stock carried in the statement of financial position as at 1 April 2019 was $1,100,000 with effective interest rate of 10%. There are also in existence 750,000 directors' share option (issued in 2017) which entitle the directors to receive two new ordinary shares for every option in 2022 at exercise price of $20 per each share to the directors. The average share price of Trinity during the year ended 31 March 2020 is $25. The following share issues (all fully subscribed) took place during the year ended 31 March 2020: - 1 July 2019: a rights issue of one new ordinary share at $1.50 each for every five existing ordinary shares outstanding held at 30 June 2019. The market price of Trinity's shares the day immediately before the rights was $2.40. 1 October 2019: an issue of 1 million $1 million 6% irredeemable cumulative preference shares. 1 January 2020: a bonus issue of two new ordinary share for every five existing ordinary shares outstanding held at 31 December 2019. The profit after tax available for Trinity is $2,585,000 for the year ended 31 March 2020. Basic earnings per share for the year ended 31 March 2019 of Trinity was 24 cents. The tax rate is 30%. Required: Q7: In accordance with HKAS 33 'Earnings Per Share', calculate the basic and diluted earnings per share of Trinity for the year ended 31 March 2020. Show the comparative basic earnings per share for the year ended 31 March 2019 of Trinity that should report in the 2020's financial statements. Express your answer in 3 decimal places. (11 marks)