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Connect .> C Secure ! https://newconnect.mheducation.com/flow/connect.html Ch. 19 - Brief Exercises (80 minutes) Saved Help Save & Exlt Submlt 3 Check my work 12 Brief Exercise 19-12 EPS; shares issued; shares retired [LO19-5,19-6) 6.25 points McDonnell-Myer Corporation reported net income of $2,394 million. The company had 526 million common shares outstanding at January 1 and sold 60 million shares on Feb. 28. As part of an annual share repurchase plan, 9 million shares were retired on April 30 for $38 per share. Calculate McDonnell-Myer's earnings per share for the year. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) eBook References am r share Mc Graw Hill ?Prey 12 or 16? Next> ???@) a e 8:35 PM ^??4, 4/17/2018 |

Explanation / Answer

Earnings per share = $2,394 / [526 + 60(10/12) – 9(8/12)]

Earnings per share = $2,394 / 570

Earnings per share = $4.20

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