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Rush Corp. began 2017 with 10,000 shares of $10 par common stock and 2,000 shares of 9.4%, $100. convertible preferred stock outstanding. On April 1

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Rush Corp. began 2017 with 10,000 shares of $10 par common stock and 2,000 shares of 9.4%, $100. convertible preferred stock outstanding. On April 1 and June 1, respectively, the company issued 2,000 and 6,000 additional shares of common stock. On November 1, the company declared a two-for- one stock split Compensatory share options that currently allow the purchase of 2,000 shares of common stock at $16 per share were outstanding during 2017. To date, none of these options have been exercised. The convertible preferred stock was issued in 2016. Each share of preferred stock is currently convertible into 4 shares of common stock. To date, no preferred stock has been converted. Rush issued $10,000 of 8% convertible bonds at face value during 2016, Each $1,000 bond is convertible into 2 shares of common stock. To date, no bonds have been converted Current dividends have been paid on both preferred and common stock. Net income for 2017 totaled $109,800. The company is subject to a 40% income tax rate. The common stock sold at an average market price of S32 per share during 2017. Calculate the basic EPS and diluted EPS

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