Alternative Financing Plans Frey Co. is considering the following alternative financing plans: Plan 1 Plan 2 960,000 $480,000 Issue 10% bonds (at face value) Issue preferred $1 stock, $10 par Issue common stock, $5 par Income tax is estimated at 40% of income. Determine the earnings per share on common stock, assuming that income before bond interest and income tax is $576,000 Enter answers in dollars and cents, rounding to the nearest cent. Plan 1 Plan 2 800,000 960,000 640,000 Earnings per share on common stock Earnings per share on common stock