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Baldwin Company had 55,000 shares of common stock outstanding throughout 2009. Th company had outstanding fully vested incentive stock options for 10,000 shares exercisable at
Baldwin Company had 55,000 shares of common stock outstanding throughout 2009. Th company had outstanding fully vested incentive stock options for 10,000 shares exercisable at $10 that had not been exercised by its executives by the end of 2009. The options were outstanding for the whole year. The average stock price in 2009 was $12. What was the number of shares of stock that should be used in computing diluted earnings per share for 2009?
a. 55,909
b. 56,667
c. 65,000
d. 75,000
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