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Question - Stampede Inc. (SI) is a public company. On January 1, 20X1, 65,000 common shares were issued and outstanding. During the year:
15,000 additional common shares were issued on April 1.
20,000 preferred shares were issued on June 1; these shares are non-cumulative and carry an annual dividend entitlement of $2 per share.
No dividends were declared.
Net income was $2,000,000.
What is the basic EPS for SI for its fiscal 20X1 year end?
a) $22.75
b) $25.00
c) $25.70
d) $26.23
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