Angela's Quilt Shop is currently an all equity firm that has $5,000$ shares of stock outstanding at a market price of $$32$ a share. Company management has decided to issue $$100,000$ worth of debt and use the funds to repurchase shares of the outstanding stock. The interest rate on the debt will be $7\mathrm{.}5\%.$ What are the earnings per share at the break$-$even level of earnings before interest and taxes? Ignore taxes.

$$2\mathrm{.}34$

$$2\mathrm{.}40$

$$2\mathrm{.}44$

$$2\mathrm{.}47$

$$2\mathrm{.}51$

$100\%$

$$

Proctorio is