On December 31, 2020, Berclair Inc. had 380 million shares of
common stock and 4 million shares of 9%, $100 par value cumulative
preferred stock issued and outstanding. On March 1, 2021, Berclair
purchased 96 million shares of its common stock as treasury stock.
Berclair issued a 5% common stock dividend on July 1, 2021. Four
million treasury shares were sold on October 1. Net income for the
year ended December 31, 2021, was $600 million.
Also outstanding at December 31 were 30 million incentive stock options granted to key executives on September 13, 2013. The options were exercisable as of September 13, 2020, for 30 million common shares at an exercise price of $56 per share. During 2021, the market price of the common shares averaged $70 per share.
Compute Berclair's basic and diluted earnings per share for the
year ended December 31, 2021. (Enter your answers in
millions (i.e., 10,000,000 should be entered as 10). Do not round
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