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  3. at january 1, 2016, canaday corporation had outsta

At January 1, 2016, Canaday Corporation had outstanding the following securities: ...

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Accounting

At January 1, 2016, Canaday Corporation had outstanding the following securities:
730 million common shares
50 million 5% cumulative preferred shares, $50 par
6% convertible bonds, $2,000 million face amount, convertible into 60 million common shares
The following additional information is available:
On September 1, 2016, Canaday sold 84 million additional shares of common stock.

Incentive stock options to purchase 50 million shares of common stock after July 1, 2015, at $10 per share were outstanding at the beginning and end of 2016. The average market price of Canadays common stock was $25 per share during 2016.

Canaday's net income for the year ended December 31, 2016, was $1,528 million. The effective income tax rate was 40%.
Required:
1. & 2.

Calculate basic and diluted earnings per common share for the year ended December 31, 2016. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

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