Beta Tech itd has currently an ordinary share capital of $25$ lakhs, consisting of $25,000$ equity shares of $100$each. The management is planning to raise another $20$ lakh to finance a major programme of expansion through one of four possible financing plans. The options are as follows:

a$)$ Entirely through ordinary shares of $100$ each, $10$ lakh through ordinary shares of $100$ each and $10$ lakh through long term borrowings at $15\%$ interest per annum

b$)5$ lakh through ordinary shares of $100$ each and $15$ lakh through long term borrowings at $16\%$ interest per annum

c$)10$ lakh through ordinary shares of $100$ each and $10$ lakh each through $14\%$ Preferences shares.

The company's expected EBIT is $8$ lakh. Assuming a tax rate of $25\%$ Determine the EP in each alternative and comment on the implications of financial leverage.