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Based on the following information, what is earnings per share at the end of the year ? Common shares issued & outstanding - January 1,

Based on the following information, what is earnings per share at the end of the year?

Common shares issued & outstanding - January 1, Year 1

810,000

Common shares issued - July 1, Year 1

42,000

Retained earnings

$5,255,000

Preferred dividends

$45,000

Net income

$3,260,000

a.

$3.92

b.

$2.68

c.

$6.32

d.

$3.87

e.

$3.97

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