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At December 31, 2010, Company X had 1,200,000 shares of common stock outstanding. On Sept 1, 2011, an additional 400,000 shares of common stock were
At December 31, 2010, Company X had 1,200,000 shares of common stock outstanding. On Sept 1, 2011, an additional 400,000 shares of common stock were issued. In addition, Company X has $12,000,000 of 6% convertible bonds outstanding at Dec 31, 2010, which are convertible into 800,000 shares of common stock. No bonds were converted into common stock in 2011. The net income for the year ended 12/31/11 was $4,500,000/
Assuming the income tax rate was 30%, what should be the diluted EPS for the year ended 12/31/11, rounded to the nearest penny?
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