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Compute diluted eps

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Reference no: EM132885325

A company has $13,248,788 of net income during the year and 898,752 common shares issued, 68,175 of which are treasury shares, and 2,000,000 authorized shares.

Assume the company has 1,000 convertible bonds with a total face value of $1,000,000 since the beginning of the year. The bonds were issued at par with a 5% coupon rate and each bond converts to 4 shares of stock. The company has an effective tax rate of 21%.

Problem 1: Compute diluted EPS.

Reference no: EM132885325

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