Kobe Corp. had 7 million shares of common stock outstanding during the current calendar year. It issued ten thousand $1,000, convertible bonds on January 1. Each bond is convertible into 50 shares of common stock. The bonds were issued at face amount and pay interest semiannually at an annual rate of 10%. On June 30, Kobe issued 100,000 shares of $100 par 6% cumulative preferred stock. Dividends are declared and paid quarterly. Kobe has an effective tax rate of 25%.
Required:
What EPS data (rounded) would Kobe report, based on its net income of $20 million?
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Kobe Corp. had 7 million shares of common stock outstanding during the current calendar year. It iss...
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