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Compute diluted earnings per share

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Question - On January 1, 2020, Stellar Company issued 10-year, $1,840,000 face value, 6% bonds, at par. Each $1,000 bond is convertible into 16 shares of Stellar common stock. Stellar's net income in 2020 was $473,800, and its tax rate was 20%. The company had 103,000 shares of common stock outstanding throughout 2020. None of the bonds were converted in 2020. Compute diluted earnings per share for 2020?

Reference no: EM132562398

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