Wildhorse Corporation has 350,000 shares of common stock outstanding throughout 2021. In addition, the corporation...
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Wildhorse Corporation has 350,000 shares of common stock outstanding throughout 2021. In addition, the corporation has 4,800, 20-year, 8% bonds issued at par in 2019. Each $1,000 bond is convertible into 20 shares of common stock after 9/23/22. During the year 2021, the corporation earned $742,000 after deducting all expenses. The tax rate was 30%. Compute the proper earnings per share for 2021. (Round answer to 2 decimal places, 52.75.)
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