Mirrlees Corp. has 11,000 6% bonds convertible into 37 shares per $1,000 bond. Mirrlees has...
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Mirrlees Corp. has 11,000 6% bonds convertible into 37 shares per $1,000 bond. Mirrlees has 580,000 outstanding shares. Mirrlees has a tax rate of 45%. The average Aa bond yield at time of issue was 11%. Compute basic earnings per share if after-tax earnings are $730,000. (Round your answer to 2 decimal places.)
$-0.29
$0.13
$0.91
$1.26
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