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A companys net income for 2020 is $800,000. It has 2,000 stock options outstanding. These options were issued during 2019, each exercisable for one share

A company's net income for 2020 is $800,000. It has 2,000 stock options outstanding. These options were issued during 2019, each exercisable for one share at $10. None has been exercised. 20,000shares of common were outstanding during 2020. The average market price of the company’s stock during 2020 was $25. Compute diluted earnings per share. (Round to nearest cent if necessary.)

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