The information below pertains to Buffalo plc for $2022.$

Net income for the year

$1,230,000$

$7\%$ convertible bonds issued at par $(1,000$ per bond$)$; each bond is convertible into $30$ shares of ordinary shares; the liability component of the bonds is $1,881,000$ based on a market rate of $9\%$

$2,090,000$

$6\%$ convertible, cumulative preference shares, $100$ par value; each share is convertible into $3$ shares of ordinary shares

$3,830,000$

$6,110,000$

Ordinary shares, $10$ par value

$40\%$

Tax rate for $2022$

$25$ per share

Average market price of ordinary shares

$25$ per share

There were no changes during $2022$ in the number of ordinary shares, preference shares, or convertible bonds outstanding. There are no treasury shares. The company also has ordinary share options $($granted in a prior year$)$ to purchase $80,600$ ordinary shares at $20$ per share.

$($a$)$ Compute basic earnings per share for $2022.($Round answer to $2$ decimal places, e$.$g$.2\mathrm{.}55.)$

Basic earnings per share $$

$($b$)$ Compute diluted earnings per share for $2022.($Round answer to $2$ decimal places, e$.$g$.2\mathrm{.}55.)$

Diluted earnings per share $,$