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Compute pearl diluted earnings per share

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Reference no: EM132113254

Question - Pearl Corporation earned net income of $370,000 in 2017 and had 108,000 shares of common stock outstanding throughout the year. Also outstanding all year was $840,000 of 9% bonds, which are convertible into 20,000 shares of common. Pearl's tax rate is 40 percent.

Compute Pearl's 2017 diluted earnings per share.

Reference no: EM132113254

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