Question: Need help, please help me on solving this and the process! Northern Wood Products is an all-equity firm with 17,900 shares of stock outstanding and

Need help, please help me on solving this and the process!

Northern Wood Products is an all-equity firm with 17,900 shares of stock outstanding and a total market value of $358,000. Based on its current capital structure, the firm is expected to have earnings before interest and taxes of $29,000 if the economy is normal, $16,400 if the economy is in a recession, and $41,600 if the economy booms. Ignore taxes. Management is considering issuing $89,800 of debt with an interest rate of 8 percent. If the firm issues the debt, the proceeds will be used to repurchase stock. What will the earnings per share be if the debt is issued and the economy is in a recession

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