The 2014 Net Income of MNO Was $300,000,and 100,000 of Its

question 112

Multiple Choice

The 2014 net income of MNO was $300,000,and 100,000 of its common shares were outstanding during the entire year.In addition,outstanding options existed to purchase 10,000 common shares at $10 per share.These options were granted in 2012 and none had been exercised by December 31,2014.MNO earned interest at 8% and had a 50% tax rate.The amount,which should be shown as MNO's diluted earnings per share for 2014,is (rounded to the nearest cent) .

• A) $2.69
• B) $2.73
• C) $2.76
• D) $2.80

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