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Compute earnings per share

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Question - Southland Industries has $60,000 of 16% (annual interest) bonds outstanding, 1,500 shares of preferred stock paying an annual dividend of $5 per share, and 4,000 shares of common stock outstanding. Assuming that the firm has a 40% tax rate, compute earnings per share for the following levels of EBIT:

A) $24,600

B) $30,600

C) $35,000

Reference no: EM132966245

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