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Santana Corporation has 390,000 shares of common stock outstanding throughout 2018. In addition, the corporation has 5, 300, 20-year, 9% bonds issued at par in 2016. Each $1,000 bond is convertible into 20 shares of common stock after 9/23/19. During the year 2018, the corporation earned $714, 870 after deducting all expenses. The tax rate was 30%. Compute the proper earnings per share for 2018.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92811768

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