Consider a firm with an EBIT of $$869,000.$ The firm finances its

assets with $$2,690,000$ debt $($costing $8\mathrm{.}3$ percent and is all tax

deductible$)$ and $590,000$ shares of stock selling at $$5\mathrm{.}00$ per share.

To reduce the firm$$s risk associated with this financial leverage,

the firm is considering reducing its debt by $$1,000,000$ by selling

an additional $390,000$ shares of stock. The firm$$s tax rate is $21$

percent. The change in capital structure will have no effect on the

operations of the firm. Thus, EBIT will remain at $$869,000.$

Calculate the change in the firm$$s EPS from this change in capital

structure. $($Do not round intermediate calculations and round your

final answers to $2$ decimal places.$)$