Beckett, Inc., has no debt outstanding and a total market value of $240,000. Earnings before interest and taxes, EBIT, are projected to be $28,000 if economic conditions are normal. If there is strong expansion in the economy, then EBIT will be 10 percent higher. If there is a recession, then EBIT will be 25 percent lower. Beckett is considering a debt issue of $48,000 with an interest rate of 4 percent. The proceeds will be used to repurchase shares of stock. There are currently 20,000 shares outstanding. The company has a tax rate 35 percent. a-1. Calculate earnings per share (EPS) under each of the three economic scenarios before any debt is issued. Normal, Expansion, and recession. B-1.Calculate earnings per share (EPS) under each of the three economic scenarios assuming the company goes through with recapitalization. Normal, expansion, and recession.