Oriole Company is considering these two alternatives for financing the purchase of a fleet of airplanes. Issuc 58,500 shares of common stock at $42 per share. (Cash dividends have not been paid nor is the payment of any contemplated.) Issue 1 2%. 15-year bonds at face value for $ 2,457,000. 1. 2, lt s estimated that the company will earn 8 16 00 before interest an a es as a result o his purchase. The company has an estimated tax rate of 4 % n has 98 shares o com mons o ou standing or ene an Determine the effect on net income and earnings per share for issuing stock and issuing bonds. Assume the new shares or new bonds will he outstanding for the entire year. (Round eamings per share to 2 decimal places, eg. $2.66.) Plan One Issue Stock Plan Two Issue Bonds $ 816000$ Income Before Interest and Taxes 816000 Interest Income Before Taxes Income Tax Expense Net Income / (Loss) Outstanding Shares Earnings Per Share