The following information relates to the capital structure of Quantico Corp.: During 2014 Quantico paid $90,000 in dividends on the preferred stock.Quantico's net income for 2014 was $1,960,000 and the income tax rate was 40 percent.For the year ended December 31,2014,the diluted earnings per share is
A) $7.29.
B) $7.43.
C) $8.17.
D) $8.29.

Question

The following information relates to the capital structure of Quantico Corp.:  During 2014 Quantico paid $90,000 in dividends on the preferred stock.Quantico's net income for 2014 was $1,960,000 and the income tax rate was 40 percent.For the year ended December 31,2014,the diluted earnings per share is
A) $7.29. 
B) $7.43. 
C) $8.17. 
D) $8.29.

Quizplus · Accepted Answer

The Answer of The following information relates to the capital structure of Quantico Corp.:  During 2014 Quantico paid $90,000 in dividends on the preferred stock.Quantico's net income for 2014 was $1,960,000 and the income tax rate was 40 percent.For the year ended December 31,2014,the diluted earnings per share is
A) $7.29. 
B) $7.43. 
C) $8.17. 
D) $8.29.

The Following Information Relates to the Capital Structure of Quantico