Question - A quick example: C. Carrasco Corp (CCC) reported net income of $390,000 in 2015 and had 50,000 shares of common stock outstanding throughout the year. Also outstanding all year were 5,000 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. CCC's tax rate is 40%. Compute CCC's 2015 earnings per share and diluted earnings per share (if applicable). (Show all calculations for full quality points).