QUESTION 7 Impac Company is currently an all equity firm with a total market value of $16,500,000 with 1,200,000 shares of stock outstanding. The firm has expected EBIT of $1,460,000 if the economy is normal and $1,870,000 if the economy booms. The firm is considering a $4,500,000 bond issue with an attached interest rate of 6 percent. The bond proceeds will be used to repurchase shares. Ignore taxes. What will the earnings per share be after the repurchase if the economy is normal? $1.69 $1.58 $1.47 $1.36 $1.25 00000