Bellwood Corp. is comparing two different capital structures. Plan I would result in 31,000 shares of stock and $93,000 in debt. Plan II would result in 25,000 shares of stock and $279,000 in debt. The interest rate on the debt is 7 percent. Assume that EBIT will be $120,000. An all-equity plan would result in 34,000 shares of stock outstanding. Ignore taxes.

What is the price per share of equity under Plan I? Plan II?