On january 2, 2018, coronado industries issued at par $204 of 5% convertible bonds. each $1000 bond is convertible into 10 shares of common stock. no bonds were converted during 2018. coronado had 194000 shares of common stock outstanding during 2018. coronado's 2018 net income was $906000 and the income tax rate was 35%. coronado's diluted earnings per share for 2018 would be (rounded to the nearest penny): $5.18 $4.90 $4.67 $4.53

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.