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2 0 0 , 0 0 0 shares of common stock 2 0 , 0 0 0 shares of convertible preferred stock. The preferred stock

200,000 shares of common stock20,000 shares of convertible preferred stock. The preferred stock is convertible into40,000 shares of common stock. During 2021, Hudson paid dividends of $40,000 to preferred shareholders.(hint: does this matter for diluted EPS?...) $1.500.000 of 6% convertible bonds outstanding during 2021. The bonds are convertible into 45,000 shares of common stock. Interest expense for the year was $90,000.(don't forget to consider taxes when determining the numerator effect) The net income for 2021 was $600,000 and the income tax rate was 25%.Diluted earnings per share for 2021 is (rounded to the nearest penny)

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