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Information from the financial statements of ABC Corporation included the following at December 3 1 , 2 0 2 1 : Common shares outstanding throughout

Information from the financial statements of ABC Corporation included the following at December 31,2021:
Common shares outstanding throughout the year                                                                  100 million
Convertible preferred shares (convertible into 32 million shares of common)          60 million
Convertible 8% bonds (convertible into 13.5 million shares of common)                 $900 million
ABCs net income for the year ended December 31,2021, is $520 million. The income tax rate is 25%. ABC paid dividends of $2 per share on its preferred stock during 2021.
Required:
Compute basic and diluted earnings per share for the year ended December 31,2021.

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