The following information pertains to Prancer Company for 2015: Common stock, $10 par value, outstanding on 1/1/2015 was 1,000,000 shares. On 3/1, 500,000 shares of common stock were sold for $42 per share; on 5/1, a 20% stock dividends were issued; on 10/1, 100,000 shares of common stock were purchased back for $35 per share and held as treasury stock. $2, 500,000, 9% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 50 shares of common stock after adjusting for stock dividends. $4,000,000, 6% convertible, cumulative preferred stock, $100 par value, were issued in a prior year; each share is convertible into 3 shares of common stock after adjusting for stock dividends. Stock options were granted in a prior year to purchase 100,000 shares of common stock at $25 per share after adjusting for stock dividends. Average market price of common stock were $40 per share after adjusting for stock dividends. None of the convertibles were converted and none of the options were exercised during 2015. Net income for 2015 was $2, 500,000 and tax rate was 30%. Compute basic earnings per share for 2015. Compute diluted earnings per share for 2015