For the year ended $2023,$ ABC Company has $$1,150,000$ of debt with an annual interest rate of $6\mathrm{.}7\%,$ $$1,200,000$ of preferred stock with an annual preferred dividend rate of $9\mathrm{.}6\%,$ $$5,500,000$ of common stock $($total book value$),$ and $271,408$ common shares outstanding.

In $2024,$ the company plans to raise $$800,000$ external capital to fund a new project through a term loan with an interest rate of $7\mathrm{.}2\%.$ The new loan's sinking fund provision requires the loan to be fully amortized over the next $5$ years, commencing in $2026.$ The company expects that the existing debt and preferred stock will not be retired until the year $2027$; hence, they will remain in the same amount in $2024.$ If the project goes as planned, the company expects $$5,000,000$ of EBIT in $2024.$ The company's tax rate is $30\%.$

What will the expected earnings per share under the new debt alternative be for $2024$ year?