Need help with the correct answer for "Plan 2". The answer 2.03 is incorrect.

Alternative Financing Plans Frey Co. is considering the following alternative financing plans: Plan 1 Plan 2 Issue 10% bonds (at face value) $1,440,000 $720,000 Issue preferred $1 stock, $10 par 1,200,000 Issue common stock, $5 par 1,440,000 960,000 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 $720,000. Enter answers in dollars and cents, rounding to two decimal places. Plan 1 1.20 Earnings per share on common stock Plan 2 2.03 X Earnings per share on common stock $ $