Please provide answer with manual steps (please do not use excel)

Answer the following questions based on the information provided in the table Plan 2 Plan 1 Interest Expense $50,000 $25,000 Preferred Dividend $3,000 $1,500 Common Shares Outstanding 100,000 200,000 a. What is the degree of financial leverage at a base level EBIT of $120,000 for both financing plans? The firm has a 40 percent tax rate b. What is the EPS for both Financing Plan 1 and Plan 2, if the firm projects EBIT of $200,000 and has a tax rate of 40 percent