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.