At a ume when demand for ready-to-eat cereal was stagnont, a spokesperson for the cereal maker Kellogg's was quoted as saying. . for the past several years, out individual company growth has come out of the other fellow's hide, Keliogg's has been prodocing cereal since 1906 and continues to implement strategles that make ti a leader in the cereal industry. Suppose that when Kellogg's and iss largest rival advertse, eoch company earns $1 bilion in profits. When neither company advenises, each company earns profts of 59 bilion. If one compary advertises and the other does not, the company that adverises eams s4s billon and the company that does not adveruse loses $3 bilion. For what range of interest rates cousd these firms use trigger strategles to support the collusive level of adverusing? Instruction: Entes your response as a percentage founded to the neatest whole nurtiber.

1. At December 31, 2025, Cullumber Company had 514000 shares of common stock issued and
outstanding, 396000 of which had been issued and outstanding throughout the year and 118000
which were issued on October 1,2025. Net income for the year ended December 31,2025 was
$1694000. What should be Cullumber's 2025 earnings per common share? $3.72$35.66$3.98
$4.28