The Tamarisk Corporation issued 10-year, $4,100,000 par, 7% callable convertible subordinated debentures on January 2,2020 . The bonds have a par value of $1,000, with interest payable annually. The current conversion ratio is 15:1, and in 2 years it will increase to 17:1. At the date of issue, the bonds were sold at 96. Bond discount is amortized on a straight-line basis. Tamarisk's effective tax was 20%. Net income in 2020 was $9,650,000, and the company had 2,140,000 shares outstanding during the entire year. Compute both basic and diluted earnings per share. (Round answers to 2 decimal places, eg \$2.55) Basic earnings per share Diluted earnings per share 5