Steven Limited's net income for the year ended December $31,2023$ was $$650,250$ and there were $92,000$ common shares outstanding during the entire year. Steven has the following two convertible securities outstanding:

$10\%$ convertible bonds $($each $$1,000$ bond is convertible into $20$ common shares$)$

$$200,000$

$5\%$ convertible $$100$ par value cumulative preferred shares $($each share is convertible into two common shares$)$ $$125,000$

Both convertible securities were issued at face value in $2020.$ There were no conversions during $2023,$ and Steven's income tax rate is $25\%.$

$($a$)$

$($b$)$

Calculate basic earnings per share. $($For simplicity, ignore the requirement to record the debt and equity portions of the convertible bond separately$).($Round answer to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$

Basic earnings per share $