The Novak Corporation issued $10-$year, $$4,890,000$ par, $7\%$ callable convertible subordinated debentures on January $2,2025.$ The bonds have a par value of $$1,000,$ with interest payable annually. The current conversion ratio is $14$:$1,$ and in $2$ years it will increase to $16$:$1.$ At the date of issue, the bonds were sold at $96.$ Bond discount is amortized on a straight$-$line basis. Novak's effective tax was $20\%.$ Net income in $2025$ was $$8,550,000,$ and the company had $1,980,000$ shares outstanding during the entire year.

Compute both basic and diluted earnings per share. $($Round answers to $2$ decimal places, e$.$g$.2\mathrm{.}55.)$

Basic earnings per share

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Diluted earnings per share

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