At December 31, 2021, the financial statements of Hollingsworth Industries included the following:

Additional data:The bonds payable were issued at par in 2019. The tax rate for 2021 was 25%.

Required:Compute basic and diluted EPS for the year ended December 31, 2021.

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Net income for 2021 $560 million $300 million Bonds payable, 8%, convertible into 36 million shares of common stock Common stock: Shares outstanding on January 1 Treasury shares purchased for cash on September 1 400 million 30 million