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Cross Town Cookies is an all - equity firm with a total market value of $ 4 , 1 8 7 , 1 0 0

Cross Town Cookies is an all-equity firm with a total market value of $4,187,100. The firm has 127,500 shares of stock outstanding. Management is considering issuing $300,000 of debt at an interest rate of 6 percent and using the proceeds to repurchase shares. The projected earnings before interest and taxes are $251,600. What are the anticipated earnings per share if the debt is issued? Ignore taxes. (Round the number of shares repurchased down to the nearest whole share.)

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