I need help with accounting please.

Exercise 109 Your answer is incorrect. Try again. Global Airlines is considering two alternatives for the financing of a purchase of a fleet of airplanes. These two alternatives are: 1. Issue 64,125 shares of common stock at $40 per share. (Cash dividends have not been paid nor is the payment of any contemplated.) 2. Issue 9%, 10year bonds at face value for $2,565,000. It is estimated that the company will earn $752,000 before interest and taxes as a result of this purchase. The company has an estimated tax rate of 30% and has 79,300 shares of common stock outstanding prior to the new financing. Determine the effect on net income and earnings per share for these two methods of financing. (Round earnings per share to 2 decimal places, e.g. $2.25.) Plan One Issue Stock Net income Earnings per share Click if you would like to Show Work for this question: LINK TO TEXT Plan Two Issue Bonds $ $ $ Open Show Work