Connect Only Problem $2-1$ Income Statement $($LG$2-1)$

Consider a firm with an EBIT of $$567,000.$ The firm finances its assets with $$1,170,000$ debt $($costing $6\mathrm{.}1$ percent and is all tax deductible$)$ and $217,000$ shares of stock selling at $$13\mathrm{.}00$ per share. The firm is considering increasing its debt by $$900,000,$ using the proceeds to buy back $92,000$ shares of stock. The firm's tax rate is $21$ percent. The change in capital structure will have no effect on the operations of the firm. Thus, EBIT will remain at $$567,000.$

Calculate the change in the firm$$s EPS from this change in capital structure.

Note: Round your answers to $2$ decimal places.