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The company had 60,000 shares of common stock outstanding throughout the year. In addition, as of January 1, the company had issued at par $600,000
The company had 60,000 shares of common stock outstanding throughout the year. In addition, as of January 1, the company had issued at par $600,000 of 11% convertible bonds that can be converted into 35 shares of common stock for each $1,000 bond. The company has no other potentially dilutive securities. The tax rate is 35% and net income is $561,600.
Compute the diluted EPS
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