The long$-$term liabilities and stockholders' equity section of T$.$ Ltd$.$ at

January $1,2019,$ was as follows:

Long$-$Term Liabilities

$8\%$ convertible bonds, each $$1,000$ bond convertible into $50$ common shares, interest payable June $30$ and December $31-$ $$4,000,000$

Shareholders' Equity

$4\%$ non$-$cumulative series A preferred shares, $$100$ par value, outstanding $20,000$ shares $-$ $$2,000,000$

$5\%$ cumulative convertible series B preferred shares, $$100$ par value, convertible into $2$ common shares, outstanding $50,000$ shares $-5,000,000$

Common Stock $-$ no par value, $400,000$ shares outstanding $($Note $1)-6,000,000$

Retained Earnings $-3,000,000$

$16,000,000$

$$20,000,000$

At January $1,2019,$ there were stock options outstanding enabling the option holders to acquire $100,000$ common shares at $$60$ per share. Information for $2019$:

$1)$ Net income was $$2,410,000.$

$2)$ On July $1,$ all the $8\%$ convertible bonds were converted. The company had no interest obligation on these bonds in the month of July.

$3)$ Dividends were declared and paid on the A and B preferred shares respectively.

$4)$ The company is subject to a $40\%$ tax rate.

$5)$ The average share price during the year $2019$ was $$80.$

Required:

$1.$ Compute Basic EPS.

$2.$ Compute Diluted EPS.