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West Inc. granted 5,000 shares of restricted common stock shares at the beginning of 2020...

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Accounting

West Inc. granted 5,000 shares of restricted common stock shares at the beginning of 2020 to company managers that will vest after 4 years of service. Net income for the year is $360,000, and 250,000 common shares were outstanding the entire year. The fair value of the shares on January 1, 2020, is $25 per share. The average market price of common shares in 2020 is $25 per share.

a. Compute basic earnings per share.

b. Compute diluted earnings per share.

Note: Enter the earnings per share amounts in dollars and cents, rounded to the nearest penny.

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