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Marigold Corp. had 192000 shares of common stock, 19900 shares of convertible preferred stock, and $1600000 of 5% convertible bonds outstanding during 2018. The preferred
Marigold Corp. had 192000 shares of common stock, 19900 shares of convertible preferred stock, and $1600000 of 5% convertible bonds outstanding during 2018. The preferred stock is convertible into 40100 shares of common stock. During 2015, Marigold paid dividends of $0.90 per share on the common stock and $4 per share on the preferred stock. Each $1,000 bond is convertible into 30 shares of common stock. The net income for 2018 was $597000 and the income tax rate was 40%. Diluted earnings per share for 2018 is (rounded to the nearest penny)
$2.30. |
| $2.57. |
| $2.10. |
| $2.14. |
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