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On December 31, Year 1, the Reba Company had 120,000 shares of common stock issued and outstanding. On July 1, Year 2, the company sold

On December 31, Year 1, the Reba Company had 120,000 shares of common stock issued and outstanding. On July 1, Year 2, the company sold 23,000 additional shares for cash. Rebas net income for the year ended December 31, Year 2, was $568,000. What is the basic earnings per share?

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