At December 31, 2016, the financial statements of Hollingsworth Industries included the following:

Net income for 2016	$	580	million
Bonds payable, 10%, convertible into 46 million shares of common stock	$	300	million
Common stock:
Shares outstanding on January 1		400	million
Treasury shares purchased for cash on September 1		45	million

Additional data:

The bonds payable were issued at par in 2014. The tax rate for 2016 was 40%.

Required:

Compute basic and diluted EPS for the year ended December 31, 2016.