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Determine the Diluted earnings per share

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Question - Hoffman Corporation had earnings available to common shareholders of $480,000 and a weighted average number of common shares outstanding during the period of 200,000 shares. The company has a convertible bond issue outstanding. The bonds were issued four years ago at par ($2,320,000), carry a 10% interest rate, and are convertible into 40,000 shares of common stock. The company has a 40% tax rate. Determine the Diluted earnings per share?

Reference no: EM132973827

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