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Cruising Marina needs to raise $1.5 million to expand the company. Cruising Marina is considering the issuance of either - $1,500,000 of 7% bonds payable,

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Cruising Marina needs to raise $1.5 million to expand the company. Cruising Marina is considering the issuance of either - $1,500,000 of 7% bonds payable, or 100,000 common shares at S15 per share. (Click the icon to view additional information.) Prepare an analysis to determine which plan is likely to result in higher earnings per share. Based solely on the earnings-per-share comparison, which financing plan would you recommend for Cruising Marina? Start by preparing the analysis to determine which plan is likely to result in higher earnings per share (EPS). (For amounts with a $0 balance, make sure to enter"0" in the appropriate column.) Plan 1 Issue $1,500,000 Plan 2 Issue $1,500,000 of Common Shares of 7% Bonds Payable i Additional info Less Before any new financing, Cruising Marina expects to eam net income of $300,000, and the company already has 100,000 shares of common shares outstanding. Cruising Marina believes the expansion will increase income before interest and income tax by $200,000. The income tax rate is 40% Less Print Done Which financing plan would you recommend based solely on EPS

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