A Corporation has net income of $270,000for the year2021,with 160,000 shares of common stock outstanding throughout the year. lt also has 1,00o shares of cumulative, convertible (1preferred share is convertible into 2 common shares),6%,$100 par preferred stock. The Corporation has issued 20,000 stock options each exercisable at $90at the beginning of the year. The average market price of the common stock for 2021was $120.Compute the basic and diluted EPS for the year ended December 31,2021. Show necessary stepwise computations.*