### Calculate earnings per share for the year ended

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##### Reference no: EM13122728

At December 31, 2012 and 2013, Funk & Noble Corporation had outstanding 1,000 million shares of common stock and 13 million shares of 4%, \$100 par value cumulative preferred stock. No dividends were declared on either the preferred or common stock in 2012 or 2013. Net income for 2013 was \$1,652 million. The income tax rate is 40%.

Calculate earnings per share for the year ended December 31, 2013.

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