The Culver Corporation issued 10-year, $4,000,000 par, 6% callable convertible subordinated debentures on January 2, 2022. The bonds have a par value of $1,000, with interest payable annually. The interest expense recorded on the liability component of the convertible bond for 2022 was $320,000. The current conversion ratio is 14:1, and in 2 years it will increase to 18:1. At the date of issue, the bonds were sold at 97. Culver's effective tax was 40%. Net income in 2022 was $10,650,000, and the company had 2,060,000 shares 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 $