Rudyard Corporation had 100,000 shares of common stock and 10,000 shares of 8%, $100 par...
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Accounting
Rudyard Corporation had 100,000 shares of common stock and 10,000 shares of 8%, $100 par convertible preferred stock outstanding during the year. Net income for the year was $400,000 and dividends were paid to both common and preferred shareholders. Rudyard's effective tax rate is 40%. What is Rudyard's basic EPS?
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$2.13.
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$4.80.
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$4.00.
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$3.20.
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