On January 1^st, Ajax Inc. had 100M shares outstanding. During the year they have the following events:

Date Economic Event

March 1 Issued stock dividend of 15%

May 1 Issued 10M additional shares of common stock

July 1 2 to 1 stock split

November 1 Purchase 2M shares in the open market

Ajax has net income of $150M and paid preferred dividends of $2.5M.

Required:

Calculate basic EPS for Ajax in that year.