THE ANSWER IS NOT 104 AND 120

ABC is a publicly traded company listed on NASDAQ. In ABCs 10-Q and 10-K public statements, ABC disclosed that it recorded a $200 mil. pre-tax inventory write-off due to fire in the companys warehouse in 2020:Q3; it realized a $30 mil. pre-tax gain (other income) on the sale of a non-core business in 2020:Q3; The company additionally realized a $50 mil. pre-tax gain (other income) on the sale of a non-core business and $45 mil. pre-tax restructuring costs in connection with a downsizing strategy in 2020:Q4. ABC company produced the following reported year-to-date (YTD) income statements during 2020-2021 period.

	Reported YTD Income Statement (in mil. dollars)
	2020:Q3	2020:Q4	2021:Q3
Sales	3,500	4100	3600
COGS	2,200	2925	3000
Other Income	50	90	40
SG&A	675	700	120
Restructuring Charge	0	45	0
EBIT	675	520	520
Interest Expense	75	102	73
Pre-tax Income	600	418	447
Income Tax (30%)	180	125.4	134.1
Net Income	420	293	313

ABC has 150 mil. basic outstanding shares, with current stock price of $32 per share. The company has the following information about the options/warrants:

Tranche	Number of Shares (mil.)	Exercise Price
Tranche 1	15	$ 5.00
Tranche 2	10	$ 25.00
Tranche 3	20	$ 30.00
Tranche 4	12	$ 35.00
Tranche 5	11	$ 47.00
Tranche 6	5	$ 55.00

What is the amount of ABC's LTM Net Income?

	A.	202
	B.	104
	C.	224
	D.	182
	E.	120