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Layton Inc. is considering two alternatives to finance its construction of a new $5 million plant. (a) Issuance of 500,000 shares of common stock at the market price of $10 per share. (b) Issuance of $5 million, 9% bonds at par. Instructions Complete the following table. Issue Bonds Income before interest and taxes $2,000,000 $2,000,000 Interest expense from bonds Issue Stock Income before income taxes $ $ Income tax expense (30%) Net income $ Outstanding shares 700,000 Earnings per share