In 2017, Ajax Incorporated needs to calculate basic EPS. Net Income for the year was $400M and cumulative preferred dividends of $44M. At the beginning of 2017, Ajax had outstanding shares of 150M. On February 1, Ajax issued a 10% stock dividend. On April 1, 2017, Ajax sold an additional 25M shares in order to raise funds for expansion. On July 1, Ajax announced a 2 for 1 stock split. On November 1, 2017, Ajax repurchased 10M shares. Required: Calculate Ajax's basic EPS