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please show work Question 2 0 / 4 pts Throughout 2019, Smith had 750,000 shares of common stock outstanding. Smith's net income for the year
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Question 2 0 / 4 pts Throughout 2019, Smith had 750,000 shares of common stock outstanding. Smith's net income for the year ended 12-31-19 was $2,400,000. Smith's income tax rate is 25%. During the entire year ending 12-31-19, Smith had 24,000 outstanding employee stock options. Each option had an exercise price of $40. During the year ended 12-31-19, the average market price of Smith's common stock was $30 per share. As of 12-31-19, Smith had $3,800,000 of 5% convertible bonds. Smith issued the bonds at face value during 2015. The bonds can be converted into 57,000 shares of Smith's common stock. What will Smith report as its diluted earnings per share for the year ended 12-31-19? $2.50 O $3.17 $3.20 $3.15 $2.40Step by Step Solution
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