The information below pertains to Stellar Company for 2021.

Net income for the year		$8,040,000
6% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 60 shares of common stock		5,420,000
4% convertible, cumulative preferred stock, $100 par value; each share is convertible into 4 shares of common stock		2,590,000
Common stock, $1 par value		10,210,000
Tax rate for 2021		40%
Average market price of common stock		$18 per share

There were no changes during 2021 in the number of common shares, preferred shares, or convertible bonds outstanding. There is no treasury stock. The company also has common stock options (granted in a prior year) to purchase 126,000 shares of common stock at $12 per share. (a) Compute basic earnings per share for 2021. (Round answer to 2 decimal places, e.g. 2.55.)

Basic earnings per share

$enter the basic earnings per share in dollar rounded to 2 decimal places

(b) Compute diluted earnings per share for 2021. (Round answer to 2 decimal places, e.g. 2.55.)

Diluted earnings per share

$enter the diluted earnings per share in dollar rounded to 2 decimal places