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Charlotte Engineering experienced net income of $450,000 for the year. It declared $30,000 in preferred dividends on December 23. It began the year with 100,000

Charlotte Engineering experienced net income of $450,000 for the year. It declared $30,000 in preferred dividends on December 23. It began the year with 100,000 common shares outstanding. On July 1, Charlotte declared a 10% common stock dividend. Compute the basic EPS for the year.

A. $4.00

B. $3.82

C. $4.29

D. $4.20

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