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Problem 1: Fox Co. had 300,000 shares of common stock issued and outstanding at December 31, the previous year-end. No common stock was issued during the current year, but on January 1, Fox issued 200,000 shares of nonconvertible preferred stock, and on December 1, Fox declared and paid $75,000 cash dividends on the common stock and $60,000 on the preferred stock. Net income for the current year was $330,000. What is Fox's current year earnings per common share?
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