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.