8 of 8 View Policies Current Attempt in Progress Crane Airlines is considering two alternatives for the feancing of a purchase of a fleet of airplanes. These two alternatives are L 2. Issue 105,900 shares of common stock at $30 per share, (Cash dividends have not been paid nor is the payment of any contemplated) Issue 7%, 10-year bonds at face value for $3,177,000. It is estimated that the company will earn $810,500 before interest and taxes as a result of this purchase. The company has an estimated tax rate of 40% and has 105,000 shares of common stock outstanding prior to the new financing Determine the effect on net income and earnings per share for these two methods of trancing (Round earnings per share to 2 decimal places, eg 2.25) Net income Earnings per share $ eTextbook and Media Plan One Issue Stock Plan Two Issue Bonds $ Attempts: unlimited Submit A