On December 31, 2023, DVW Incorporated had 600 million shares of common stock and 7 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding.

• On March 1, 2024, DVW purchased 184 million shares of its common stock as treasury stock.
• DVW issued a 5% common stock dividend on July 1, 2024.
• Four million treasury shares were sold on October 1.
• Net income for the year ended December 31, 2024, was $1,150 million.
• Also outstanding at December 31 were 30 million incentive stock options granted to key executives on September 13, 2019.
• The options were exercisable as of September 13, 2023, for 30 million common shares at an exercise price of $56 per share.
• During 2024, the market price of the common shares averaged $70 per share.

Required:

Compute DVW's basic and diluted earnings per share for the year ended December 31, 2024.