Southland Industries has $$70,000$ of $7\%($annual interest$)$ bonds outstanding, $1,200$ shares of preferred stock paying an annual dividend of $$5\mathrm{.}00$ per share, and $4,000$ shares of common stock outstanding. Assuming that the firm has a $20\%$ tax rate, compute earnings per share $($EPS$)$ for EBIT value of $$34,900.$

Calculate the EPS for EBIT value of $$34,900$ below: $($Round to the nearest dollar except for the EPS which should be rounded to the nearest cent.$)$

EBIT

Less: Interest

Net profits before taxes

Less: Taxes $(20\%)$

Net profit after taxes

Less: Preferred dividends

Earnings available for common stockholders

EPS shares