Question
13. Bramble Corp. had 199000 shares of common stock, 19600 shares of convertible preferred stock, and $600000 of 9% convertible bonds outstanding during 2021. The
13. Bramble Corp. had 199000 shares of common stock, 19600 shares of convertible preferred stock, and $600000 of 9% convertible bonds outstanding during 2021. The preferred stock is convertible into 39900 shares of common stock. During 2021, Bramble paid dividends of $0.55 per share on the common stock and $1.80 per share on the preferred stock. Each $1,000 bond is convertible into 45 shares of common stock. The net income for 2021 was $352000 and the income tax rate was 25%. Diluted earnings per share for 2021 is (rounded to the nearest penny) Multiple choice
$1.36.
$1.32.
$1.55.
$1.48.
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