Troublesome Technologies Service and Co. has $375 million in net income in 2017 and 250 million shares of stock outstanding. It has 25 million shares of 8%, $10 par cumulative preferred stock, convertible to 50 million shares of common stock, $250 million of 7.5% convertible bonds which are convertible to 15 million shares, and 125 million in stock options exercisable after 2016 with an exercise price of $30 per share. The average market price for the year is $52 per share. It issued 40 million more shares on March 31, 2016. It issued 65 million more shares on September 1, 2016. It issued a 15% stock dividend on August 1, 2016. It bought back 27.5 million shares on January 31, 2016 and 55 million shares on October 1, 2016. Assume a tax rate of 35%.