Three plans for financing a $20,000,000 corporation are under consideration by its organizers. Under each of the following plans, the securities will be issued at their par or face amount and the income tax rate is estimated at 30%. Plan 1 Plan 2 Plan 3 9% Bonds $10,000,000 6% Preferred Stock, $100 par $10,000,000 5,000,000 Common Stock, $10 par $20,000,000 Total 10,000,000 $20,000,000 $20,000,000 $20,000,000 5,000,000 It is estimated that income before interest and taxes will be $5,000,000. Determine for each plan, the expected net income and the earnings per share on common stock. (Round earnings per share to 2 decimal places, e.g. 2.25.) Net income Earnings per share on common stock Plan 1 Plan 2 $ $ Plan 3