General Energy Storage Systems $($GESS$)$ was founded in $2012$ by Ian Redoks, a Ph$.$D$.$ candidate in physics who was interested in $$outside$-$the$-$box$$ solutions to the problem of storing electrical energy. Redoks had obtained several patents with potential applications for plug$-$in hybrid cars, off$-$grid home electrical systems, and large$-$scale storage of commercial electricity, produced by conventional means from excess capacity at off$-$peak hours or from non$-$fossil$-$fuel sources such as solar power and wind power.

The timeliness of Redoks$$s research has quickly attracted investors. For example, GESS has won contracts from an automobile company to manufacture batteries for a limited$-$production plug$-$in hybrid. It is also ready to begin commercial production of storage components for off$-$grid home electrical systems. More product means more storage space, however. To acquire the necessary manufacturing facilities, GESS needs to obtain additional financing.

Up to this point, GESS$$s primary source of funds had been form the sale of stock. The company is entirely equity$-$financed except for current liabilities incurred in the course of day$-$to$-$day operations. There are $250,000$ shares outstanding, which are mostly owned by large, diverse technology companies that may wish to partner with or even acquire GESS at some point in the future. The shares trade occasionally in the NASDAQ over$-$the$-$counter market at an average price of $$20\mathrm{.}00.$

The investment bankers who placed the stock have suggested that an all$-$debt plan would minimize taxes, but it would be risky and leave little room for future borrowing. Instead, they recommend staying close to the industry averages for debt$-$to$-$assets and debt$-$to$-$equity ratios. They have proposed two alternative plans:

Plan A calls for $$2,000,000$ of new equity $(100,000$ new shares at the firm$$s current stock price of approximately $$20\mathrm{.}00)$ and $$4,000,000$ of privately placed debt at $7\%.$

Plan B calls for $$4,000,000$ of new equity $(200,000$ new shares at the current stock price of $$20\mathrm{.}00)$ and $$2,000,000$ of privately placed debt at $6\%$

Under either plan GESS$$s combined state and federal marginal tax rate will be $28\%.$

Estimate earnings per share for Plan B at $$1,300,000$ EBIT. Enter your answer with $2$ decimals. For example enter $1\mathrm{.}05$ or $2\mathrm{.}05,$ etc.