Skyview has income available to common shareholders of $10,000,000 for the year 2020 (i.e. preferred dividends were already deducted in arriving at this amount). 2,000,000 weighted average common shares were outstanding for the year 2020 and the average market price of common shares was $75 during the year 2020. Skyview has the following potential convertible instruments outstanding during the year. Options to purchase 100,000 common shares at $60 each. 800,000 convertible preferred shares entitled to a cumulative dividend of $8 per share. Each preferred share is convertible into two common shares. 5% convertible debentures with a principal amount of $100,000,000 (issued at par). Each $1,000 debenture is convertible into 20 common shares. The tax rate was 40% for 2020. What is the amount of basic earnings per share? $ 5 If the options are converted, what is the relevant amount of shares to be used in the calculation of diluted earnings per share? 20000 Are the options dilutive? Yes Are the convertible preferred shares dilutive? Yes If the 5% convertible debentures are converted, what is the impact on income (numerator to be used in the calculation of diluted earnings per share? $ 3000000 If the 5% convertible debentures are converted, what is the increase in the number of common shares to be used in the calculation of diluted earnings per share? 2000000 Are the convertible debentures dilutive? Yes. What is the amount of diluted earnings per share