Split delimited values into multiple columns.

Greetings. I was to split each record into multiple columns. The problem is some records need to be split into only 1 column, others may need to be split into more. Also need to remove the "/"'s. This is all dependent  on where a "/" is found. Been beating my head for a while and getting nowhere.

So:

create table #foo (myPK int, c1 nvarchar(425))

insert into #foo values (1,'/folder1')
insert into #foo values (2,'/lvl1/folder2')
insert into #foo values (3,'/folder1/lvl2/folder3')
insert into #foo values (4,'/f1/folder2/lvl3/fldr4')

Should return as:

Ideas?

Thanks in advance! ChrisRDBA