Ornaments, Inc., is an all-equity firm with a total market value of $663,000 and 32,800 shares of stock outstanding. Management believes the earnings before interest and taxes (EBIT) will be $95,100 if the economy is normal. If there is a recession, EBIT will be 25 percent lower, and if there is a boom, EBIT will be 35 percent higher. The tax rate is 34 percent. What is the EPS in a recession
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