Compute earnings per share of common stock

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Reference no: EM1361284

Abc Company's price-earnings ratio is 8.0 and the market price of a share of common stock is $32. The company has 3,000 shares of preferred stock outstanding with each share receiving a dividend of $3 per share. The earnings per share of common stock is:
A) $10.
B) $7.
C) $4.
D) $3.

Reference no: EM1361284

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