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Effect of Financing on Earnings Per Share

Three different plans for financing an $$18,000,000$ corporation are under consideration by its organizers. Under each of the following plans, the securities will be issued at their par or face amount, and the income tax rate is estimated at $40\%$ of income:

$\backslash$table$[[,$Plan $1,$Plan $2,$Plan $3],[8\%$ Bonds,,,$$9,000,000$