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16-14Marin Corporation reported net income of $245,520 in 2020 and had 45,800 shares of common stock outstanding throughout the year. Also outstanding all year were 5,000 shares of cumulative preferred stock, each convertible into 2 shares of common. The preferred stock pays an annual dividend of $5 per share. Marin’s tax rate is 50%.Compute Marin’s 2020 diluted earnings per share.
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16-14Marin Corporation reported net income of $245,520 in 2020 and had 45,800 shares of common stock...
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