Question 14 of 15 View Policies Show Attempt History Current Attempt in Progress < > Your answer is incorrect. 0/1 Metlock Corporation issued 20-year, $10,400,000 face value, 9% convertible debentures on January 1, 2020. The bonds have a par value of $1,000, with interest payable semiannually. The initial conversion ratio is 10:1, and in 3 years it will increase to 12:1. At the date of issue, the bonds were sold at 105. Bond premium is amortized on a straight-line basis, Metlock's effective tax rate was 40%. Net income in 2020 was $27.950,000, and the company had 11.810,000 common shares issued and outstanding during the entire year. Compute both basic and diluted earnings per share. (Round answers to 2 decimal places, e.g. 2.55) Basic earnings per share $ Diluted earnings per share $ eTextbook and Media Save for Later 11914000 1 Attempts: 2 of 10 used Submit Answer