Dunbar Company had 530,000shares of common stock outstanding during the year 2015. In addition, at December 31, 2013, 76,000 shares were issuable upon exercise of executive stock options which require a $42 cash payment upon exercise (options granted in 2013). The average market price during 2015 was $50.
Compute the number of shares to be used in determining diluted earnings per share for 2015.
The proceeds from the exercise of the options. Without this number I cannot figure what the Diluted earnings per share is.