Consider a firm with an EBITDA of $$1,100,000$ and an EBIT of $$1,000,000.$ The firm finances its assets with $$4,600,000$ debt $($costing $8\mathrm{.}6$ percent, all of which is tax deductible$)$ and $206,000$ shares of stock selling at $$13$ per share. To reduce risk associated with this financial leverage, the firm is considering reducing its debt by $$2,600,000$ by selling additional shares of stock. The firm's tax rate is $21$ percent. The change in capital structure will have no effect on the operations of the firm. Thus, EBIT will remain at $$1,000,000.$

Calculate the EPS before and after the change in capital structure and indicate changes in EPS. $($Do not round intermediate calculations. Round your answers to $2$ decimal places.$)$

Answer is complete but not entirely correct.

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