Preferred stock pays-diluted earnings per share

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Reference no: EM13775541

DiCenta Corporation reported net income of $287,000 in 2014 and had 51,800 shares of common stock outstanding throughout the year. Also outstanding all year were 5,520 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. DiCenta’s tax rate is 39%.

Compute DiCenta’s 2014 diluted earnings per share

Reference no: EM13775541

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