Question: On January 1 , 2 0 2 4 , PC Company had 8 0 , 0 0 0 shares of common stock outstanding and 3

On January 1,2024, PC Company had 80,000 shares of common stock outstanding and 30,000 shares of 10%,$30 par, cumulative preferred stock outstanding. It also had stock options giving key personnel the option to buy 20,000 common shares at $25 each. Net income for 2024 was $215,000. The income tax rate is 25%. During 2024, the average market price of the common shares was $40.
Compute the 2024 diluted earnings per share for PC Company (rounded):
5246
51.43
|$1.25
181.69
On January 1 , 2 0 2 4 , PC Company had 8 0 , 0 0

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