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Alternative Financing Plans Frey Co. is considering the following alternative financing plans: Plan 1 Plan 2 Issue 10% bonds (at face value) $1,080,000 $540,000 Issue preferred $1 stock, $10 par 900,000 Issue common stock, $5 par 1,080,000 720,000 Income tax is estimated at 40% of income. Determine the earnings per share on common stock, assuming that income before bond interest and income tax is $864,000. Enter answers in dollars and cents, rounding to two decimal places. Plan 1 1.50 X Earnings per share on common stock Plan 2 1.85 X Earnings per share on common stock Feedback Check My Work Set up a column for each plan. Remember to take interest, income tax and dividends into consideration. Check My Work O more Check My Work uses remaining. Next