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King Corporation plans to issue 2000 bonds with a face value of $1000 each and a coupon rate of 10%. The tax rate is 40%.

King Corporation plans to issue 2000 bonds with a face value of $1000 each and a coupon rate of 10%. The tax rate is 40%. Projected earnings after completion of the project are 2 million and shares outstanding are 200,000. What is the projected earnings per share after completion of the project?

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