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Mackenzie Incorporated had 103 million shares of common stock, 1 million shares of 7%,$100 par,...

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Accounting

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Mackenzie Incorporated had 103 million shares of common stock, 1 million shares of 7%,$100 par, cumulative preferred stock, and 1 million shares of 9%,$100 par, noncumulative preferred stock outstanding at the end of 2023 and 2024. No dividends were declared or paid on the common stock in either year. In 2024, a $3.8 million dividend was paid on the 7% preferred stock and a $4.8 million dividend was paid on the 9% preferred stock. Net income for 2024 was $308 million. The company's tax rate is 30%. Required: Compute basic earnings per share for the year ended December 31, 2024. Enter your answer here, but if you'd like to show your calculations, do that with the spreadsheet from question 19

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