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For 2009, Flamingo Products had net income of $5,000,000. At 1 January 2009, there were 200,000 shares outstanding. On 1 July 2009, the company issued

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For 2009, Flamingo Products had net income of $5,000,000. At 1 January 2009, there were 200,000 shares outstanding. On 1 July 2009, the company issued 100,000 new shares for $20 per share. What is Flamingo's basic earnings per share for 2009? Select one: a. $16.67 b. $18 c. $20 d. $25

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