(Answered) Sarasota corporation has 9 convertible bonds outstanding it

Accounting

Sarasota Corporation has 9% convertible bonds outstanding. It recorded interest expense (net of income taxes) of $6,300 on these bonds during the year. The bonds are convertible into 2,500 shares of common stock. Compute the impact of these convertible bonds on Sarasota Corporation's diluted earnings per share.

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