Compute concord diluted earnings per share

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Point 1: Concord Corporation earned net income of $388,800 in 2020 and had 108,000 shares of common stock outstanding throughout the year. Also outstanding all year was $750,000 of 9% bonds, which are convertible into 15,000 shares of common. Concord's tax rate is 20 percent.

Question 1: Compute Concord's 2020 diluted earnings per share. (Round to 2 decimal places)

Reference no: EM132489439

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