Last year, Cayman Corporation had sales of $6,892,042, total variable costs of $2,801,022, and total...
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Last year, Cayman Corporation had sales of $6,892,042, total variable costs of $2,801,022, and total fixed costs of $1,514,783. In addition, they paid $480,000 in interest to bondholders. Cayman has a 21% marginal tax rate. If Cayman's sales increase 5%, what should be the increase in earnings per share? SET YOUR CALCULATOR TO 4 DECIMAL PLACES. ROUND TO 2 DECIMAL PLACES AT THE END. DO NOT ENTER THE % SIGN. FOR EXAMPLE, IF YOUR ANSWER IS 9.4567, ENTER IT AS 9.46.
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