On December 31, 2017, Berclair Inc. had 320 million shares of common stock and 9 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 60 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Ten million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $450 million.

Compute Berclair's earnings per share for the year ended December 31, 2018.