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  3. crane co. had 197000 shares of common stock, 19200

Crane Co. had 197000 shares of common stock, 19200 shares of convertible preferred stock, and...

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Accounting

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Crane Co. had 197000 shares of common stock, 19200 shares of convertible preferred stock, and $1503000 of 4% convertible bonds outstanding during 2025. The preferred stock is convertible into 39900 shares of common stock. During 2025, Crane paid dividends of $1.00 per share on the common stock and $3 per share on the preferred stock. Each $1000 bond is convertible into 30 shares of common stock. Crane's net income for 2025 was $597000 and its income tax rate was 30%. Basic earnings per share for 2025 is $2.52. $2.43. $2.19. $2.74

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