The Corporation maintained the following securities in circulation during 2020:200,000 common shares (2,000,000 of legal capital), 10,000 cumulative preferred shares, 8% (500,000 of legal capital) and two exchangeable bond issues. 1) 1,000,000 at 10% exchangeable at the rate of 40 common shares per bond (each bond is worth $ 1,000) 2) 3,000,000 at 8%, exchangeable for 16 shares each (each bonus is worth $ 1,000) In addition, during 2020 the Corporation granted a common stock option plan to an executive, through which he can acquire 20,000 common shares at $ 25 per share. The year-end market value of these shares is $ 35 per share. The net income for 2020 was 800,000 and the tax rate was 30%. Additionally, a 20% stock dividend was issued on December 30, 2020. There are no accumulated dividends on preferred shares. Determine the diluted computation of earnings per share