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Compute Tamarisk diluted earnings per share

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Question - Tamarisk Corporation reported net income of $306,740 in 2020 and had 53,200 shares of common stock outstanding throughout the year. Also outstanding all year were 4,700 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. Tamarisk's tax rate is 50%. Compute Tamarisk's 2020 diluted earnings per share.

Reference no: EM133084748

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