On December 31, 2015, Berclair Inc. had 240 million shares of common stock and 5 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2016, Berclair purchased 36 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2016. Six million treasury shares were sold on October 1. Net income for the year ended December 31, 2016, was $250 million.

Required:

Compute Berclair's earnings per share for the year ended December 31, 2016. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).

Numerator / Denominator = Earnings Per Share