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Blue Inc. had 506,000 common shares outstanding for the entire fiscal year ended August 31, 2017. Blue has 109,000 outstanding $3 cumulative, no-par value preferred shares. All shares were outstanding for the full year. Options were written at the start of the fiscal year to purchase 31,000 common shares at $16 per share. The average market price of Blue's common shares during the year ended August 31, 2017 was $27 per share. The options expire in 2029, and none were actually exercised during the current year. Also outstanding for the entire year was a 6% bond with a face value of $4,620,000, convertible to 113,400 common shares. Blue Inc.'s net income for the year was $2,720,000, and the income tax rate for the fiscal year was 40%. (For simplicity, ignore the requirement to record the debt and equity portions of the convertible bond separately) Your answer is incorrect. Try again. Calculate Blue Inc.'s basic earnings per share for the year ended August 31, 2017. (Round answer to 2 decimal places, e.g. 15.25.) 4.95 Basic EPS$ LINK TO TEXTLINK TO TEXT Your answer is incorrect. Try again. Calculate Blue Inc.'s diluted earnings per share for the year ended August 31, 2017. (Round calculations of EPS to 3 decimal places, e.g $3.545 and provide final answer to 2 decimal places, e.g. 15.25.) 3.96 Diluted EPS$