Omaments Inc. is an all-equity firm with a total market value of $630,000 and 29,500 shares of stock outstanding. Management believes the earnings before interest and taxes (EBIT) will be $90,000 if the economy is normal. If there is a recession, EBIT will be 10 percent lower, and if there is a boom, EBIT will be 20 percent higher. The tax rate is 34 percent. What is the EPS in a recession? Please show work!!!

Answers: $1.61, $1.81, $2.42, $2.01, $2.21