Sands, Co. has 300,000 shares of common stock and $1,000,000 of 2% convertible bonds outstanding. Each $1,000 bond is convertible into 10 shares of common stock. Net income is $2,500,000 and the corporate tax rate is 21%. What is Sands' diluted earnings per share? $8.06 $8.13 $8.12 $8.33 Previous Next -

10 polms Sands, Co, has 300,000 shares of common stexk and $1,000,000 of 2x comvertible bonds outstandine. Each $1,000 bond is convertible into 10 shares of commonstock. Net. income is $2,500,000 and the corporate tax rate is 21K. What is Sands' diluted earnings per share? $B.06 58.13 $8.12 $8.33