Cullumber Health is considering two alternatives for the financing of some high technology medical equipment. These twoalternatives are: 1. Issue 60,000 shares of $10 par value commonstork at $50 per share. 2. Issue $3,000,000,7%,10 year bonds at par: It is estimated that the compamy will earn $900.000 before interest and taxes as a result of acquiring the medical equipment. The company has an estimated tax rate of 40% and has 90,000 shares of common stock outstanding prior to the new financing Determine the effect on net incomeand earnings per share for these two methods of financing. (Round earnings per share to 2 decimal places, eg. 2.25.)