4. Magnum Headache, Inc., is unlevered, with equity valued at $7 million and with 3.5 million shares outstanding. The firm's cash flow before tax is $1 million. The corporate tax rate is 34 percent. Magnum is considering an exchange of 1 million shares of its equity for $2 million in debt with an annual interest expense of 10 percent (i.e., an opportunity to become levered). The change, of course, will not affect the firm's cash flow. Calculate the after-tax equity earnings per share for Magnum unlevered and for Magnum levered