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  3. 14. shipley corporation had net income for the yea

14. Shipley Corporation had net income for the year of $480k and a weighted average...

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Accounting

14. Shipley Corporation had net income for the year of $480k and a weighted average number of common shares outstands during the period of 200,000 shares. The company has a convertible bond issue outstanding. The bonds were used four years ago at face ($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. Diluted earnings per share are

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