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Throughout 2019, Hogan Corporation had 54,000,000 shares of common stock outstanding. In addition, Hogan had 3,000,000 stock options outstanding, which had been granted to certain
Throughout 2019, Hogan Corporation had 54,000,000 shares of common stock outstanding. In addition, Hogan had 3,000,000 stock options outstanding, which had been granted to certain executives, giving them the right to purchase shares of Hogan's stock at an exercise price of $24 per share. The options were fully vested as of August 31, 2019. The average market price of Hogan's common stock during 2019 was $20. What is the number of shares that should be used in computing diluted earnings per share for the year ended December 31, 2019?
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