Lannister Corporation is considering two plans for raising $$2,500,000$ to expand its current operations. The first plan involves the sale of $$2,500,000,8\%,10-$year bonds sold at face value. The second plan involves selling $50,000$ common shares at $$50$ each. Lannister Corporation currently has outstanding $200,000$ shares of stock and a net income of $$900,000.$ Either plan is expected to generate additional income of $$400,000$ before interest and taxes. The income tax rate is $30\%.$

Required

$1.$ Calculate earnings per share for both plans.