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Dicenta corporation reported net income

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1. DiCenta Corporation reported net income of $270,000 in 2010 and had 50,000 shares of common stock outstanding throughout the year. Also outstanding all year were 5,000 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. DiCenta's tax rate is 40%. Compute DiCenta's 2010 diluted earnings per share. 

Reference no: EM131107898

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