Terex Corporation is currently an all equity firm with a total market value of $$12,400,000$ with $1,200,000$ shares of stock outstanding. The firm has expected EBIT of $$1,440,000$ 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?

$1\mathrm{.}49$

$1\mathrm{.}51$

$1\mathrm{.}53$

$1\mathrm{.}55$

$1\mathrm{.}57$