Consider a firm with an EBIT of $$868,000.$ The firm finances its assets with $$2,680,000$ debt $($costing $8\mathrm{.}2$ percent and is all tax

deductible$)$ and $580,000$ shares of stock selling at $$6\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 $380,000$ 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 $$868,000.$

Calculate the change in the firm's EPS from this change in capital structure.

Note: Do not round intermediate calculations and round your final answers to $2$ decimal places.