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Concord Ltd currently has no debt. The company's market cap is $8m and it has 400,000 shares outstanding. The CFO has proposed that the

Concord Ltd currently has no debt. The company's market cap is $8m and it has 400,000 shares outstanding. The CFO has proposed that the company issues 8% bonds worth $2m and the money used to buy back shares. Current year's EBIT is $1m. Ignore taxes. What is the new EPS and DFL?

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