Destin Corp. is comparing two different capital structures. Plan-I would result in 10,000 shares of stock and $90,000 in debt. Plan II would result in 7, 600 shares of stock and $198,000 in debt. The interest rate on the debt is 10 percent. Assume that EBIT will be $48,000. An all- equity plan would result in 12,000 shares of stock outstanding. Ignore taxes.

What is the price per share of equity under Plan-I and Plan II.

Plan-I = Plan II=