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Question 5 ABC Company reported a net income of 45 million for the year ended 30th June 2023. The company had a weighted average

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Question 5 ABC Company reported a net income of 45 million for the year ended 30th June 2023. The company had a weighted average of 60 million shares of common stock outstanding. In addition, the company has only one potentially dilutive security: a total number of 1 million Page 2 of 5 convertible bonds with a face value of $100 each and a coupon rate of 5%. Each convertible bond can be converted into 15 common shares. Assume a tax rate of 30%. Calculate ABC's basic and diluted EPS. [2+2=4 marks]

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