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What concord diluted earnings per share would be

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Reference no: EM132982494

Problem 1: On January 2, 2021, Concord Corporation issued at par $ 1990000 of 6% convertible bonds. Each $ 1000 bond is convertible into 10 shares of common stock. No bonds were converted during 2021. Concord had 202000 shares of common stock outstanding during 2021. Concord's 2021 net income was $ 910000 and the income tax rate was 30%. Concord's diluted earnings per share for 2021 would be (rounded to the nearest penny):

a. $ 4.50.
b. $ 4.62.
c. $ 4.92.
d. $ 4.48.

Reference no: EM132982494

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