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Question: In determining earnings per share, interest expense, net of applicable income taxes, on convertible debt that is dilutive should be:

A. Added back to net income for diluted earnings per share, and ignored for basic earnings per share.

B. Added back to net income for both basic earnings per share and diluted earnings per share.

C. Deducted from net income for basic earnings per share, and ignored for basic diluted earnings per share.

D. Deducted from net income for both basic earnings per share and diluted earnings per share.

Accounting Basics, Accounting

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