As an all equity firm, it has 30 million shares outstanding. After issuing $300 million of debt and repurchasing shares, its shares outstanding are 20 million. Its EBIT is $60 million. The risk free interest rate is 5%. Based on $60 million EBIT, its earnings per share as an all equity firm is $2.00.

Calculate its earnings per share as a levered firm. EPS as a levered firm is $_________. Do not include a $ sign in your answer.