A company is planning to invest $12,000,000 in an expansion program, which is expected to increase income before interest and taxes by $2,200,000. The company is currently earning $2.80 per share on 1,000,000 shares of common stock outstanding. The capital structure prior to the investment is provided below. REQUIRED: Assuming that the firm maintains its current income and achieves the anticipated income from the expansion, what will be the earnings per share under the following circumstances? The expansion is financed by debt. The expansion is financed by equity. At what level of income before interest and taxes will the earnings per share be the same amount under either alternative