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75. At December 31, 2013, the shareholders' equity of LMN reported as outstanding: 100 common shares and 30 nonconvertible preferred shares. On July 1, 2014,
75. At December 31, 2013, the shareholders' equity of LMN reported as outstanding: 100 common shares and 30 nonconvertible preferred shares. On July 1, 2014, LMN issued a 10 percent stock dividend on its common shares and paid a cash dividend of $2.00 per share on its preferred (the full year's requirement). Income for the year ended December 31, 2014 was $1,170. The 2014 EPS, rounded to the nearest cent, for LMN should be:
a. 10.09
b. 11.70
c. 10.64
d. 10.58
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