Question: The following financial information is available at the end of the year. ShareInformation: Security Authorized Issued & outstanding Other features Common stock 500,000 250,000 Currently

The following financial information is available at the end of the year.ShareInformation:

Security

Authorized

Issued & outstanding

Other features

Common stock

500,000

250,000

Currently pays a dividend of $1 per share.

Preferred stock, series A

50,000

15,000

Nonconvertible, cumulative; pays a dividend of $5 per share.

Preferred stock, series B

50,000

40,000

Convertible; pays a dividend of $8.50 per share. Each share is convertible into 2.5 common shares.

Additional Information:

Retained earnings at start of year =$6,000,000andReportedincome for the year = $1,250,000.

The diluted EPS isclosestto what?

A.$2.91.

B.$2.39.

C.$2.61

D.2.19

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