-VII On December 31, 2008, Jackson Company had 100,000 shares of common stock outstanding and 30,000 shares of 7%, SSO par, cumulative preferred stock outstanding. On February 28, 2009, Jackson purchased 24,000 shares of common stock on the open market as treasury stock paying $45 per share. Jackson soled 6,000 of the treasury shares on September 30, 2009, for $47 per share. Net income for 2009 was S180,905. Also outstanding at December 31, 2008, were fully vested incentive stock options giving personnel the option to buy 50,000 common shares at $4 Nov 0. These stock options were exercised on ember 1, 2009. During 2009, the average market price of the common shares was $50 with a closing price of $51 on December 31, 2009. Required: Compute Jackson's basic and diluted earnings per share for 2009. 105, as 76 40 u2