Exercise $19-17($Algo$)$ EPS; stock dividend; nonconvertible preferred stock; treasury shares; shares sold;

stock options $[$LO$19-5,19-6,19-7,19-8]$

On December $31,2020,$ Berclair Inc. had $520$ million shares of common stock and $3$ million shares of $9\%,$$$100$ par value cumulative

preferred stock issued and outstanding. On March $1,2021,$ Berclair purchased $152$ 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 $$950$ 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.

Required:

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 intermediate calculations.$)$