Fortran is currently an all equity firm with a total market value of $24,500,000 with 1,400,000 shares of stock outstanding. The firm has expected EBIT of $1,480,000 if the economy is normal and $2,620,000 if the economy booms. The firm is considering a $6,200,000 bond issue with an attached interest rate of 5 percent. The bond proceeds will be used to repurchase shares. Ignore taxes. What will the earnings per share be after the repurchase if the economy booms?