Ornaments, Incorporated, is an all-equity firm with a total market value of $663,000 and 32,800 shares of stock outstanding. Management believes the earnings before interest and taxes (EBIT) will be $95,100 if the economy is normal. If there is a recession, EBIT will be 25 percent lower, and if there is a boom, EBIT will be 35 percent higher. The tax rate is 24 percent. What is the EPS in a recession? Multiple Choice $2.39 $1.24 $2.58 $1.91 $1.65