Southland industries has 60,000 0f 14.1% (annual interest) bonds outstanding, 1,800 shares of preferred stock paying annual dividend of $5 per share, and 7,000 shares of common stock outstanding. Assuming that the firm has a 40% tax rate, compute earnings per share (EPS) for the following levels of EBIT:
a.$24,900
b. $30,300
c. $35,000