The Concord Corporation issued $10-$year, $$4,500,000$ par, $7\%$ callable convertible subordinated debentures on January $2,2020.$ The

bonds have a par value of $$1,000,$ with interest payable annually. The current conversion ratio is $15$:$1,$ and in $2$ years it will increase

to $18$:$1.$ At the date of issue, the bonds were sold at $98.$ Bond discount is amortized on a straight$-$line basis. Concord's effective tax

was $20\%.$ Net income in $2020$ was $$8,900,000,$ and the company had $1,960,000$ shares outstanding during the entire year.

Compute both basic and diluted earnings per share. $($Round answers to $2$ decimal places, e$.$g$.$ $$2\mathrm{.}55.)$

Basic earnings per share $

Diluted earnings per share $