Please fully explain..

Beech and co, Inc. has three different plans for financing a $4,000,000 expansion project which are currently under consideration: Plan 1: is financing the entire project by the issuance of common stock. $10 par. Plan II; is financing half of the project by common stock, $10 par and other half by using 9% preferred stock. Plan III: calls for the issuance of 12% bond for $2,000,000 with the remaining capitalization split between the 9% preferred stock and the common stock $10 par. The board of Directors estimate that the project will earn $1,000,000 annually before deducting On the bonds and income tax is estimated at 30% of income. a. Compute the earnings par share on common stock b. Which it the cheapest means of financing the project? Why