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Baldwin Company had 40,000 ordinary shares outstanding on January 1, 2014

Finance

Baldwin Company had 40,000 ordinary shares outstanding on January 1, 2014. On April 1, 2014 the company issued 20,000 ordinary shares. The company had outstanding fully vested incentive share options for 10,000 shares exercisable at $10 that had not been exercised by its executives. The average market price of ordinary share for the year was $12. What number of shares (rounded) should be used in computing diluted earnings per share?

A) 65,000

B) 56,667

C) 55,000

D) 61,667. 

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