Last year, Cayman Corporation had sales of $6,902,046, total variable costs of $2,865,763, and total fixed costs of $1,520,932. In addition, they paid $480,000 in interest to bondholders. Cayman has a 21% marginal tax rate. If Cayman's sales increase 6%, what should be the increase in earnings per share? SET YOUR CALCULATOR TO 4 DECIMAL PLACES. ROUND TO 2 DECIMAL PLACES AT THE END. DO NOT ENTER THE % SIGN. FOR EXAMPLE, IF YOUR ANSWER IS 9.4567, ENTER IT AS 9.46.

CORRECT ANSWER: 11.9

Please help me understand how to get that anwer.

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