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During the current year, Low Corporation had 3 million shares of common stock outstanding. Five thousand $1,000, 6% convertible bonds were issued at face amount
During the current year, Low Corporation had 3 million shares of common stock outstanding. Five thousand $1,000, 6% convertible bonds were issued at face amount at the beginning of the year. Low reported income before tax of $4 million and a net income of $2.4 million for the year, Each bond is convertible into 10 shares of common stock. What's the diluted EPS (rounded)?
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