Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 29 May 2018 My Price 4.00

Drury Corporation

 

Drury Corporation needs to raise $1,700,000. The corporation plans on selling 110,000 shares of $23 par value common stock. Drury Corporation currently has 140,000 shares of stock outstanding and net income of $1,300,000. The $1,700,000 from the stock sale is expected to generate additional income of $400,000 before interest and taxes. The income tax rate is 30​%. What are the earnings per share after the sale of 110,000 shares of​ stock? (Round your final answer to the nearest​ cent.)

Answers

Maurice Tutor
(5)
Status NEW Posted 29 May 2018 06:05 PM My Price 4.00

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