The Monomoy Corporation had the following outstanding stocks, bonds and options as of January 1, 2021. All securities were issued at par or face value.

Type of Security	Par or Face Value	No. of Shares, Bonds or Options	Conversion or Exercise Terms
Common stock	$1	500,000	None
5% cumulative convertible preferred stock	$100	2,500	4 shares of common for each share of preferred
6.5% convertible debentures	$1,000	5,000	30 shares of common for each $1,000 convertible debenture
Stock options, granted December 31, 2020 and expiring December 31, 2024		60,000	One share per option; exercise price of $25 per share

Additional information:

1. On July 1, 2021, Monomoy repurchased 40,000 common shares.
2. Net income for the year was $750,000.
3. The income tax rate for 2021 was 20%.
4. The average market price of Monomoy common stock during 2021 was $30 per share.

Instructions

Calculate Basic and Diluted EPS for Monomoy for 2021. In order to receive full credit, you must show calculations of the numerator and denominator effects (i.e., the dilution factors) for each potentially dilutive security.