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Summer Tan, Inc. is an all-equity firm with a total market value of $564,000 and 38,300 shares of stock outstanding. Management believes the earnings before

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Summer Tan, Inc. is an all-equity firm with a total market value of $564,000 and 38,300 shares of stock outstanding. Management believes the earnings before interest and taxes (EBIT) wiy be $81,900 if the economy is normal. If there is a recession, EBIT will be 30 percent lower, and if there is a boom. EBIT Will be 40 percent higher. The tax rate is 34 percent. What is the EPS in a boom? Multiple Choice $198 $14! 599

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