19) A firm needs $2 million of new long-term financing. The firm is considering the sale of common stock or a convertible bond. The current market price of the common stock is $42 per share. To sell this new issue, the stock would have to be underpriced by $2 and sold for $40 per share. The firm currently has 300,000 shares of common stock outstanding. The alternative is to issue 20-year, 10 percent, and $1,000 parc-value convertible bonds, The conversion price would be set at $50 per hare, and the bond could be sold at par. The earnings for the firm ane expected to be $500,000 in the coming year. Assuming the firm chooses the sale of common stock, the eanings per share in the coming year will be