Eagle Corp. needs to raise $2,200,000. The corporation plans…

Eаgle Cоrp. needs tо rаise $2,200,000. The cоrporаtion plans to sell 5%, 10-year bonds at the face value of $2,200,000 on January 1 of the current year. Eagle Corp. currently has 120,000 shares of stock outstanding and will generate net income of $1,200,000 in the current year. The $2,200,000 from the bond sale is expected to generate additional income of $1,000,000 before interest and taxes for the current year. The income tax rate is 20%. What are the earnings per share for the current year after consideration of the sale of the bonds? You must use the honorlock calculator to solve the problem. (Round your final answer to the nearest penny.)