7 In today's market, the market value of each share of FRL's stock is $22. FRL is an all-equity company. Right now it has 7,600 shares of common stock outstanding. FRL decided to take a loan in the amount of $68,000, and to do so it will sell the required number of corporate bonds. The annual cost of this corporate loan is 9 percent. What will FRL do with this borrowed money? It will buy back some of its common stock shares and therefore remove them from the market. 4 points Calculate the earnings per share (EPS) at the break-even level of the company's earnings before interest and taxes (EBIT). (This break-even EBIT level makes FRL's stockholders in different between the company having debt and having none at all.) Multiple Choice $2.38 O $1.98 $4.87 O O $3.62 $3.34 O