Ping, Inc. had $64,000$ shares of common stock outstanding at January $1,2024.$ On March $31,2024,$ an additional $13,600$ shares were sold for cash. Ping also had $$5,400,000$ of $6\%$ convertible bonds outstanding throughout the year. The bonds are convertible into $54,000$ shares of common stock. Net income for the year was $$365,000.$ The tax rate is $25\%.$

Required: Compute both basic and diluted earnings per share for the year ended December $31,2024.$