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A corporation has 2,000 shares, 10% preferred stock of $55 par, and 6,000 shares of common stock outstanding. The net income for the year is

A corporation has 2,000 shares, 10% preferred stock of $55 par, and 6,000 shares of common stock outstanding. The net income for the year is $280,000. Calculate earnings per share.

a. $46.67

b. $44.83

c. $140.00

d. $55.00

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