Bowie Company had 100 shares of common stock issued and outstanding at December 31 . 2013 . On July 1 . 2014, Bowie issued a 1 . percent stock dividend. Unexercised stock options to purchase 20 shares of common stock (adjusted for the 2014 stock dividend) at $20 per share were outstanding at the beginning and end of 2014 . The average market price of Bowie's common stock (which was not affected
by the stock dividend) was $25 per share during 2014 . The ending market price was $40 . Net income for the year ended December 31 . 2014, was $2,200 . What was Bowie's 2014 diluted earnings per share, rounded to the nearest cent?
a. $19.30
b. $20.00
c. $20.20
d. $18.33
A
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