Question
Mansfield Corporation reported net income of $900,000 for the year ended December 31,2015. The companys accountant provided the additional information below. Additional Information Common stock
Mansfield Corporation reported net income of $900,000 for the year ended December 31,2015. The companys accountant provided the additional information below. Additional Information Common stock shares outstanding throughout 2015: 200,000 Stock options outstanding throughout 2015: 40,000 Each stock option allows for the purchase of one (1) share of common stock at an exercise price of $20 per share. The stock options are exercisable at any time until 12-31-2020, at which time the stock options expire. On 1-1-2015, the market price of the common stock was $21 per share. The average market price of the common stock was $25 per share during 2015. On 12-31-2015, the market price of the common stock was $30 per share. The income tax rate is 40%. What was Diluted EPS for Mansfield Corporation in 2015 ?
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