Task: Canada Bank has $60,000 of 16% (annual interest) bonds outstanding, 1,500 shares of preferred stock paying an annual dividend of $5 per share, and 4,000 shares of common stock outstanding. Assuming a 40% tax rate, compute earnings per share for levels of $24,600, $30,600,and $35,000.
I am having a hard time with this and need a good example to go off of.