NO.PZ2016012102000184
问题如下：
Fruit Capital company issued 55,000 shares to employees as stock options on January 1st, 20X5. 24,000 shares of these options have an exercise price of $32, and the rest of these options have an exercise price of $35. At the end of 20X5, Fruit Capital company's stock price was $42. All of outstanding common shares was 1,800,000.The average stock price over 20X5 was $34.What is the denominator of the diluted earning per share?
选项：
A.1801412.
B.1824000.
C.1754.
解释：
A is correct.
Based on the average stock price, only the options at $32 are in the money (and therefore dilutive).
Using the treasury stock method, the denominator of the diluted EPS=1800000+ [24000-(24000*32)/34]=1801412.
考点：稀释EPS
是否行权要看acerage price,而不是ending price,公司这一年的平均股价是34，因此行权价格35的31000份期权是不行权的，只有 32 美元的期权是行权的（因此是稀释的）。
根据treasury stock method ，
diluted EPS的分母 = 1800000+[24000-(24000*32)/34]=1801412股。
为什么要用32/34呢？股东用32的价格买股票，多出来的钱用34的价格回购市场上的股票，不是亏了吗？
用更贵的价格去回购？
