Question $4$The following data are presented by Waxman Ltd$.$ for calendar $2019$:Net incomeCommon shares outstanding, $1,000,000$ shares$10\%,$ cumulative preferred shares, convertible into $120,000$ common shares$8\%$ convertible bonds; convertible into $105,000$ common shares$$4,500,000$$$1,600,000$$$7,500,000360,000$ call options exercisable at $$25$ per shareAdditional information:$1.$ The common and preferred shares and the convertible bonds were outstanding from the beginning of the year$\mathrm{.}2.$ No dividends were declared or distributed in $2018$ or $2019\mathrm{.}3.$ The average market price of the common shares in $2019$ was $$30.$ The stock price was $$27$on January $1,2019,$ and $$35$ on December $31,2019\mathrm{.}4.$ The convertible bonds were sold at par$\mathrm{.}5.$ The income tax rate for $2019$ is $30\%.$Required:a$.$ Calculate basic EPS.b$.$ Calculate diluted EPS.C$.$ Briefly discuss the usefulness of the EPS measure in general. What is the additional