At January 1, 2021, Miller Corporation had outstanding the following securities: (1) 710 million common shares, (2) 20 million 5% cumulative preferred shares, $50 par, and (3) 6.4% convertible bonds, $4,000 million face amount, convertible into 80 million common shares. The following additional information is available: On September 1, 2021, Miller sold 78 million additional shares of common stock. Incentive stock options to purchase 60 million shares of common stock after July 1, 2020, at $12 per share, were outstanding at the beginning and end of 2021. The average market price of Millers common stock was $18 per share during 2021. Miller's net income for the year ended December 31, 2021, was $2,374 million. The effective income tax rate was 25%. Required: 1. Calculate basic earnings per share for the year ended December 31, 2021. 2. Determine the incremental effect of convertible bonds: dilutive or antidilutive? 3. Calculate diluted earnings per share for the year ended December 31, 2021

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