please show formulas so i can learn how to solve. also, this question on chegg has all different answers for same problem.

Case #3 Aant Investments Inc. currently has $3.5 million in debt outstanding, bearing in interest rate of 12.3%. It wishes to finance a $5 million expansion program and is considering five alternatives. Plan Debt Preferred Equity 0%. 0% 100% 35% 65% 50% 50% 50% 30% 5 60% 20% 1 2 3 4 0% 0% 20% 20% The preferred stock dividend will be 12% and the price of common stock will be $18 per share. The company currently has 750,000 shares of common stock outstanding and is in 40% tax bracket. a. If the earnings before interest and taxes are $1.5 million, what would be earning per share for five alternatives, assuming no immediate increase in the operating profit. b. Compute the degree of financial leverage (DFL) for each alternatives at the expected EBIT level of $1.5 million C. Which alternative do you prefer and why