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A company has basic earnings per share of $12.18. If the tax rate is 25%, which of the following securities would be dilutive? I. 15,000

A company has basic earnings per share of $12.18. If the tax rate is 25%, which of the following securities would be dilutive?

I. 15,000 incentive stock options with an exercise price of $17 to its employees and an average market price of $15 per share.

II. Cumulative 9%, $30 par preferred stock.

Multiple Choice

I and II

I only

Neither I nor II

II only

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