AAA Company is financed entirely by common stock that is priced to offer a 20% expected rate of return. The stock price is $60 and the earnings per share are $12. If the company repurchases 50% of the stock and substitutes an equal value of debt yielding rD=0.016, what is the expected earnings per share value after refinancing? (Hint: This is a challenging question!) Calculate your answer precise to two digits after the comma.