Compute the earnings per share
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The High and Dry Boat Company has $120,000 of 15% bonds outstanding along with 2,000 shares of $2.50 (dividend) preferred stock and 3,000 shares of common stock. Assuming the firm has a 40% tax rate, compute the earnings per share (EPS) for the following levels of EBIT.
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Solution Summary
The solution computes the earnings per share (EPS) for the given levels of EBIT.
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