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 12 percent higher. If there is a recession, then EBIT will be 25 percent lower. Beckett is considering a debt issue of $140.000 with an interest rate of 6 percent. The proceeds will be used to repurchase shares of stock. There are currently 12,000 shares outstanding. Ignore taxes for this problem 2-1.Calculate earnings per share. EPS, under each of the three economic scenarios before any debt is issued. (Do not round Intermediate calculations and round your final answers to 2 decimal places (e.g., 32.16).) Recession Normal Expansion EPS $ $ $ - Calculate the percentage changes in EPS when the economy expands or enters a 2. recession. (Negative amounts should be Indicated by a minus sign. Do not round Intermediate calculations. Enter your answers as a percent rounded to 2 decimal places (e.g., 32.16).) Percentage changes in EPS Recession Expansion b-1.Calculate earnings per share (EPS) under each of the three economic scenarios assuming the company goes through with recapitalization. (Do not round Intermediate calculations and round our final answers to 2 decimal places (e.g., 32.16).) EPS $ Recession Normal Expansion b- Given the recapitalization calculate the percentage changes in EPS when the 2. economy expands or enters a recession. (Negative amounts should be Indicated by a minus sign. Do not round Intermediate calculations. Enter your answers as a percent rounded to 2 decimal places (e.g., 32.16).) Percentage changes in EPS Recession Expansion % %