Northern Wood Products is an all-equity firm with 21,500 shares of stock outstanding and a total market value of $367,000, Based on its current capital structure, the firm is expected to have earnings before interest and taxes of $33,500 if the economy is normal, $20,000 if the economy is in a recession, and $47,000 If the economy booms. Ignore taxes. Management is considering Issuing $92,500 of debt with an interest rate of 9 percent. If the firm issues the debt, the proceeds will be used to repurchase stock. What will the earnings per share be if the debt is issued and the economy is in a recession? Multiple Cholon $2.41 $1,57 $73 O $106 3.54