The bonds were issued four years ago at par 2000000 carry a, Ask an Expert

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Shipley Corporation had net income for the year of $480,000 and a weighted average number of common shares outstanding during the period of 200,000 shares. The company has a convertible bond issue outstanding. The bonds were issued four years ago at par ($2,000,000), carry a 7% interest rate, and are convertible into 40,000 shares of common stock. The company has a 40% tax rate. what are Diluted earnings per share?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M975427

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