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During 2015, A corporation had 200,000 shares of $10 par value common stock and 30,000...

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Accounting

During 2015, A corporation had 200,000 shares of $10 par value common stock and 30,000 shares of 8%, $40 par value convertible preferred stock outstanding. Each share of preferred stock may be converted into three shares of common stock. A Corporation's 2015 net income was $460,000. Compute the diluted earnings per share for 2015. (please show calculations)

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