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What is the diluted earnings per share

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Question - During 2019, Shepherd paid dividends of $1.00 per common share and $2.50 per preferred share. The preferred shares are non-cumulative, and convertible into 20,000 common shares. The 9% convertible bonds are convertible into 50,000 common shares. Net income for calendar 2019 was $500,000. Assume the income tax rate is 30%. What is the diluted earnings per share for 2019?

Reference no: EM132513912

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