Pharoah Corporation issued $ 4 million of 10-year, 6% callable convertible subordinated debentures on January 2, 2020. The debentures have a face value of $ 1,000, with interest payable annually. The current conversion ratio is 14:1, and in two years it will increase to 19:1. At the date of issue, the bonds were sold at 98 to yield a 6.2753% effective interest rate. Bond discount is amortized using the effective interest method. Pharoah's effective tax was 30%. Net income in 2020 was $ 8 million, and the company had 2.2 million shares outstanding during the entire year. For simplicity, ignore the IFRS requirement to record the debentures' debt and equity components separately. (a) Calculate both basic and diluted earnings per share for the year ended December 31, 2020. (Round answers to 2 decimal places, e.g. 15.25.) $ Basic earnings per share Diluted earnings per share $