Pioneer Ltd$.$ wishes to evaluate the various financing options available to finance a new project. The expected outlay for the project is Rs$.100$ lakhs. The Company expects to earn a $15\%$ return on capital employed. The following financing options are available:

Option $1$: Issue of $10$ lakh equity shares of Rs$.10$ each $.$

Option $2$: Issue of $5$ lakh equity shares of Rs$.10$ each, $12\%$ debentures of Rs$.100$ each for the remaining amount

Option $3$: Issue of $4$ lakh equity shares of Rs$.10$ each, $11\%$ debentures of Rs$.100$ each amounting to Rs$.40$ lakhs and the balance by raising $9\%$ preference shares of Rs$.100$ each

tax rate $30\%$

Evaluate all the above options and choose the optimum financing plan which maximizes EPS.