Splish Corporation issued 20-year, $ 10,400,000 face value, 9% convertible debentures on January 1, 2020. The bonds have a par value of $1,000, with interest payable semiannually. The initial conversion ratio is 10:1, and in 3 years it will increase to 12:1. At the date of issue, the bonds were sold at 105. Bond premium is amortized on a straight-line basis. Splish’s effective tax rate was 40%. Net income in 2020 was $ 27,200,000, and the company had 13,240,000 common shares issued and outstanding during the entire year. Compute both basic and diluted earnings per share.