Macbeth Spot Removers is entirely equity financed with values as shown below: Data Number of shares 1,600 Price per share $ 16 Market value of shares $ 25,600 Although it expects to have an income of $2,100 a year in perpetuity, this income is not certain. This table shows the return to stockholders under different assumptions about operating income. We assume no taxes. Outcomes Operating income ($) 1,100 1,600 2,100 2,600 Suppose that Macbeth Spot Removers issues only $4,960 of debt and uses the proceeds to repurchase 310 shares. The interest rate on the debt is 8%. a. Calculate the equity earnings, earnings per share, and return on shares for each operating income assumption. (Input all values as a positive number. Round your "Earnings per share" answers to 2 decimal places. Enter your "Return on shares" answers as a percent rounded to 2 decimal places. Round the other answers to the nearest whole number.)