Compute basic earnings per share

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Question - Horne Engineering Corp, has 30,000 6.0% bonds convertible into 30 shares per $1,000 bond. Horne Engineering has 500,000 outstanding shares and a tax rate of 35%. Compute (basic) earnings per share if after-tax earnings are $750,000 and diluted EPS when bonds are converted.

Reference no: EM133173318

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