Whispering Inc. had $502,000$ common shares outstanding for the entire fiscal year ended August $31,2023.$ Whispering also had

$105,000$$$3$ cumulative, no$-$par value preferred shares outstanding for the full year. Options were written at the start of the fiscal year

to purchase $32,000$ common shares at $$16$ per share. The average market price of Whispering's common shares during the year ended

August $31,2023$ was $$25$ per share. The options expire in $2032,$ and none were actually exercised during the current year. Also

outstanding for the entire year was a $7\%$ bond with a face value of $$4,600,000,$ convertible to $115,000$ common shares. Whispering

Inc.$\text{'}$s net income for the year was $$2,724,600,$ and the income tax rate for the fiscal year was $40\%.$

Calculate the income effect of the dividends on the preferred shares.

Dividends on preferred shares $

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Calculate basic earnings per share. $($For simplicity, ignore the requirement to record the debt and equity portions of the

convertible bond separately$).($Round answer to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$

Basic EPS $

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Calculate the after$-$tax interest paid on the $7\%$ bonds.

After$-$tax interest on bonds converted $

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