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During its fiscal year morey corporation had outstanding

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During its fiscal year, Morey Corporation had outstanding 600,000 shares of $6.50 preferred stock and 2,000,000 shares of common stock. Morey's net income for the year was $19,550,000. The company also had granted stock options to employees for 200,000 shares of common stock at $10 per share (exercise price). The average price of the company's common stock during the fiscal year was $20 per share.Calculate the company's basic earnings per share.

Reference no: EM13606186

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