[Steps Shown] Company reported earnings after tax (EAT) of $2,160,000 last year along with basic EPS of $3. All of the company’s bonds are convertible and,
Question: Company reported earnings after tax (EAT) of $2,160,000 last year along with basic EPS of $3. All of the company’s bonds are convertible and, if converted, would increase the number of shares of the firm’s stock outstanding by 15%. Company is subject to a total effective tax rate of 40% and has a TIE (TIE equals EBIT/interest) of 10. Compute Company’s diluted earnings per share.
Deliverable: Word Document 
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