Oak Farms is an unlevered firm with $4050$ shares outstanding and an EBIT of $700.$ Corporate earnings are taxed at a rate of $36\%.$

Calculate EPS for Oak Farms. $

Note: Your answer should be in dollars and cents. For example, $$0\mathrm{.}99.$

Suppose that Oak Farms makes a decision to partition $($split$)$ its assets into debt and equity. The firm issues $$1750$ of debt at a cost of $8\mathrm{.}15\%,$ and

uses these funds to reduce the amount of equity on its books. The partition does not change the EBIT or the tax rate, but does reduce the number of

shares outstanding to $3300.$

Compute Oak Farms EPS after the partition. $

Note: Your answer should be in dollars and cents.