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Rockland Corp 300000

Price: $1.99

Rockland Corporation earned net income of $300,000 in 2012 and had 100,000 shares of common
stock outstanding throughout the year. Also outstanding all year was $800,000 of 10% bonds, which are
convertible into 16,000 shares of common. Rockland’s tax rate is 40 percent. Compute Rockland’s 2012
diluted earnings per share.

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