US Hel System Announcements NEXT Exercise 15-12 Sunland Airines is consider ng two atermatives for the nanang of a purchase of a fleet of airplanes. These two alternatives are: 1. Issue 100,800 shares of common stock at $30 per share. (Cash dividends have not been paid nor is the payment of any contemplated.) 2. Issue 99, 10-year bonds at face value for $3,024,000 It is estimated that the company will ean $729,500 before interest and taxes as a result of this purchase. The company has an estimated tax rate of 30% and has 112,500 shares of common stock outstanding pnor to the new financing. Determine the effect on net income and earnings per share for these two methods of financing. (Round earnings per share to 2 decimal places, eg, 2.25.) Plan One Issue Stock Plan Two Issue Bonds Net income Earnings per share LINK TD TEXT Question Attempts: o of 3 used SAVE FOR LATERSUBNIL