Carolina Company is a calendar-year entity with a complex capital structure. Carolina reported no discontinued operations, but it had an extraordinary loss (net of tax) of 1,200,000 dollars in the first quarter when its income before the extraordinary item was 1,000,000 dollars. The average price of Carolina's common stock for the first quarter was $25, the shares outstanding at the beginning of the period equaled 300,000, and 15,000 shares were issued on March 1. At the beginning of the quarter, Carolina had outstanding 2,000,000 dollars of 5% convertible bonds, with each 1,000 dollar bond convertible into 10 shares of common stock. No bonds were converted. At the beginning of the quarter, Carolina also had outstanding 120,000 shares of preferred stock paying a quarterly dividend of $0.10 per share and convertible to common stock on a one-to-one basis. Holders of 60,000 shares of preferred stock exercised their conversion privilege on February 1. Throughout the first quarter, warrants to buy 50,000 shares of Carolina's common stock for $28 per share were outstanding but unexercised. Carolina's tax rate was 30%

Required: The weighted-average number of shares used to calculate basic earnings per share for the first quarter is: