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The information below pertains to Metlock Company for 2026. Net income for the year...

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Accounting

The information below pertains to Metlock Company for 2026.
Net income for the year
7% convertible bonds issued at par ( $1,000 per bond); each bond is convertible into 30 shares of common stock
6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 3 shares of common stock
Common stock, $10 par value
Tax rate for 2026
Average market price of common stock
$1,230,000
1,990,000
4,110,000
6,270,000
20%
$25 per share
purchase 68,200 shares of common stock at $20 per share.
a. Compute basic earnings per share for 2026.(Round answer to 2 decimal places, e.g.2.55.)
Basic earnings per share
$
b. Compute diluted earnings per share for 2026.(Round answer to 2 decimal places, e.g.2.55.)
Diluted earnings per share
$
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