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During the current year, High Corporation had 4.9 million shares of common stock outstanding. $7,875,000 of...

During the current year, High Corporation had 4.9 million shares of common stock outstanding. $7,875,000 of 20% convertible bonds were issued at face amount at the beginning of the year. High reported income before tax of $5.9 million and net income of $4.9 million for the year. The bonds are convertible into 815,000 shares of common. What is diluted EPS (rounded)?

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