Last year Lexington had sales of $655,000 and paid taxes of $50,000. Because of the low interest rate environment, the firm also borrowed some money from the local bank and paid $16,000 in interest expense. In addition, the firm incurred Variable costs and Fixed Costs of $211,000 and $463.000 respectively. If sales increase by 5%, what should be the increase in earnings per share? SETYOUR CALCULATOR TO 4 DECIMAL PLACES AND ROUND TO 2 DECIMAL PLACES AT THE END. DO NOT ENTER THE % SIGN. IF YOUR ANSWER IS 7.701196, FOR EXAMPLE, ENTER 7.70 Last year Lexington had sales of $655,000 and paid taxes of $50,000. Because of the low interest rate environment, the firm also borrowed some money from the local bank and paid $16,000 in interest expense. In addition, the firm incurred Variable costs and Fixed Costs of $211,000 and $463.000 respectively. If sales increase by 5%, what should be the increase in earnings per share? SETYOUR CALCULATOR TO 4 DECIMAL PLACES AND ROUND TO 2 DECIMAL PLACES AT THE END. DO NOT ENTER THE % SIGN. IF YOUR ANSWER IS 7.701196, FOR EXAMPLE, ENTER 7.70