Wagner Trucking Is Considering Investing in a New Project That

Wagner Trucking is considering investing in a new project that will cost $13 million and increase net income by 6.5 percent.This project will be completely funded by issuing new equity shares.Currently,the firm has 1.25 million shares of stock outstanding with a market price of $42 per share.The current earnings per share are $1.82.What will the earnings per share be if the project is implemented?

A) $1.39
B) $1.45
C) $1.55
D) $1.62
E) $1.69