Simonelli Co. is considering the following alternative financing plans: Plan 1 Plan 2 Issue 8% bonds (at face value) $ 5,000,000 4,000,000 Issue preferred $2.00 stock, $20 par 2,000,000 Issue common stock, $25 par 5,000,000 4,000,000 Income tax is estimated at 40% of income. Determine the earnings per share on common stock, assuming income before bond interest and income tax is $1,000,000