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Business, 05.05.2020 05:00 johnbuffit08

During 2021, R Co. had the following two classes of stock issued and outstanding for the entire year: • 520,000 shares of common stock, $1 par. • 3,200 shares of 4% preferred stock, $100 par, convertible share-for-share into common stock. R's 2021 net income was $1,920,000, and its income tax rate for the year was 25%. In the computation of diluted earnings per share for 2021, the amount to be used in the numerator is:

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