Alternative Financing Plans Frey Co. is considering the following alternative financing plans: Plan 1 Issue 5% bonds (at face value) $6,000,000 Issue preferred $1 stock, $20 par Issue common stock, $25 par Plan 2 $2,000,000 6,000,000 6,000,000 4,000,000 Income tax is estimated at 40% of income. Determine the earnings per share of common stock, assuming income before bond interest and income tax is $800,000. Enter answers in dollars and cents, rounding to two decimal places. Plan 1 1.25 Earnings per share on common stock Plan 2 1 X Earnings per share on common stock