Alternative Financing Plans Frey Co. Is considering the following alternative financing plans: Plan 1 Plan 2 $1,600,000 $800,000 1,330,000 1,600,000 1,070,000 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 $480,000. Enter answers in dollars and cents, rounding to the nearest cent Plan 1 Earnings per share on common stock Plan 2 s( ) Earnings per share on common stock