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Newtonian Lumber recently reported operating income (EBIT) of $4,800,000. The company has 5,000,000 shares of stock outstanding, interest expense of $800,000, and a corporate tax
Newtonian Lumber recently reported operating income (EBIT) of $4,800,000. The company has 5,000,000 shares of stock outstanding, interest expense of $800,000, and a corporate tax rate of 20 percent. What is the company's earnings per share? (Answer to the nearest cent, for example, in the format of X.XX without the dollar sign.)
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