ABC Ltd. is considering two financing plans to raise ₹ 8, 00,000. The key information is as follows: 

TABLE GIVEN BELOW: 

Plan Equity Debt Preference Shares 150% 50% 250% 50% Expected EBIT is ₹ 2, 40,000. Cost of Debt is 10% and cost of Preference Shares is 10%. Tax rate is 50%. Equity shares of the face value of ₹ 10 each will be issued at a premium of ₹ 10 per share. 

Calculate Earnings per share for plan 1 and 2 and suggest which one is better.