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Howat Corporation earned $265,500 during a period when it had an average of 111,200 shares...

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Accounting

Howat Corporation earned $265,500 during a period when it had an average of 111,200 shares of common stock outstanding. The common stock sold at an average market price of $18 per share during the period. Also outstanding were 36,400 warrants that could be exercised to purchase one share of common stock for $12 for each warrant exercised.

Compute diluted earnings per share?

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