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North Corporation had 2 million shares of common stock outstanding. Two thousand 10% convertible bonds, each with $1,000 face value, were issued at face amount
North Corporation had 2 million shares of common stock outstanding. Two thousand 10% convertible bonds, each with $1,000 face value, were issued at face amount at the beginning of the year. Each bond is convertible into 10 shares of common stock. The tax rate is 25%. North reported net income of $4 million for the year. What is diluted EPS (rounded)? O a. $3.80 O b. $1.00 O c. $4.20 O d. $4.00 O e. $0.90
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