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Mann, Inc., had 300,000 shares of common stock issued and outstanding at January 1. On...

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Accounting

Mann, Inc., had 300,000 shares of common stock issued and outstanding at January 1. On July 1, an additional 50,000 shares of common stock were issued for cash. Mann also had unexercised stock options to purchase 40,000 shares of common stock at $15 per share outstanding at the beginning and end of the year. The average market price of Manns common stock was $20 during the year. If net income is $455,000, what will Mann report as diluted earnings per share (DEPS) for the year ended December 31?

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