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McManus Inc. reported net earnings of $200,000 for the year. McManus has 200,000 shares of common ...

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McManus Inc. reported net earnings of $200,000 for the year. McManus has 200,000 shares of common ...

McManus Inc. reported net earnings of $200,000 for the year. McManus has 200,000 shares of common stock outstanding all year. On March 31, the company granted 40,000 stock options that allow employees to purchase shares for $15 each. The company stock has averaged $20 in the market during the year. Compute the basic and diluted EPS.
A) basic EPS $1.00; diluted EPS $0.95
B) basic EPS $1.00; diluted EPS $1.00
C) basic EPS $1.00; diluted EPS $0.96
D) basic EPS$0.96; diluted EPS $0.96

Textbook

Intermediate Accounting

Edition: 1^st

Authors: Gordon, Raedy, Sannella

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