Alternative Financing Plans Plan 1 Desmond Co. is considering the following alternative financing plans: Plan 2 Issue 10% bonds (at face value) $1,160,000 $580,000 Issue preferred $1 stock, $10 par 960,000 Issue common stock, $5 par 1,160,000 780,000 Income tax is estimated at 40% of income. Determine the earnings per share of common stock, assuming that income before bond interest and income tax is $348,000. Enter answers in dollars and cents, rounding to two decimal places. Earnings per share on common stock Plan 2 Earnings per share on common stock Plan 1