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The following information was extracted from Smurm Corporation's 2006 annual report: Common...

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Accounting

The following information was extracted from Smurm Corporation's 2006 annual report:

Common stock:
Share outstanding 12/31/2015 90 million
New shares issued 4/1/2016 10 million
Share outstanding 12/31/2016 100 million
Preferred stock:
$10 par, 10% convertible into 2 shares of common stock, share outstanding 50 million
Options each to purchase one common share at $50 per share 1 million
Market price of stock:
Average for year $75
Beginning of year $70
End of year $78
Preferred dividends paid $50,000,000
Net income for 2016 $350,000,000

Diluted earnings per share for 2016 was:

Group of answer choices

$2.00

$3.52

$3.07

$2.03

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