During 2017, Malamute Ltd.had 200,000 common shares, 30,000 non-cumulative convertible preferred shares, and $1,500,000 10% convertible bonds outstanding.The preferred shares are convertible into 40,000 common shares.During 2017, Malamute paid dividends of $1.20 per share to the common shares and $2.00 per share to the preferred shares.Each $1,000 bond is convertible into 45 common shares.The net income for 2017 was $900,000 and the income tax rate was 30%.Basic earnings per share for 2017 is

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The Answer of During 2017, Malamute Ltd.had 200,000 common shares, 30,000 non-cumulative convertible preferred shares, and $1,500,000 10% convertible bonds outstanding.The preferred shares are convertible into 40,000 common shares.During 2017, Malamute paid dividends of $1.20 per share to the common shares and $2.00 per share to the preferred shares.Each $1,000 bond is convertible into 45 common shares.The net income for 2017 was $900,000 and the income tax rate was 30%.Basic earnings per share for 2017 is