A company with 4,000,000 shares outstanding wants to issue new equity to finance a project that will cost $10,000,000. The cost of the project will be financed with the issue of new shares and will increase shares outstanding by 800000. The company's book value per share is $10. The company's current net income of $350,0000 is expected to increase by $1,300,000 if it proceeds with the project. Assume the company's price-earnings ratio is 12 and will remain constant. What will the company's expected EPS be if it proceeds with the project? Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commas and the $ sign in your response. For example, an answer of $1,000.50 should be entered as 1000.50. Numeric Response 1