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Calculate Crane diluted earnings per share

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Reference no: EM132838778

Question - Crane Corporation reported net income of $680,264 in 2020 and had 133,000 common shares outstanding throughout the year. Also outstanding all year were 9,400 of cumulative preferred shares, with each being convertible into 3 common shares. The preferred shares pay an annual dividend of $4 per share. Crane's tax rate is 40%. Calculate Crane's 2020 diluted earnings per share?

Reference no: EM132838778

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