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Southern Wind is an all-equity firm with 18,500 shares of stock outstanding and a total market value of $356,000. Based on its current capital structure,

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Southern Wind is an all-equity firm with 18,500 shares of stock outstanding and a total market value of $356,000. Based on its current capital structure, the firm is expected to have earnings before interest and taxes of $28,000 if the economy is normal$15,600 if the economy is in a recession, and $40,400 ir the economy booms. Ignore taxes. Management is considering issuing $89.200 of debt with an interest rate of 6 percent. If the firm issues the debt, the proceeds will be used to repurchase stock. What will the earnings per share be if the debt is issued and the economy booms? Multiple Choice

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