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Southern Wind is an all-equity firm with 17,300 shares of stock outstanding and a total market value of $353,000. Based on its current capital structure,

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Southern Wind is an all-equity firm with 17,300 shares of stock outstanding and a total market value of $353,000. Based on its current capital structure, the firm is expected to have earnings before interest and taxes of $26,500 if the economy is normal. $14,400 if the economy is in a recession, and $38,600 f the economy booms, ignore taxes. Management is considering issuing $88,300 of debt with an interest rate of 7 percent. If the firm issues the debt, the proceeds will be used to repurchase stock. What will the earnings per shore be if the debt is issued and the economy booms

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