Wakeville Marina needs to raise $3.0 million to expand the company. The company is considering issuing either: $3,000,000 of 8% bonds payable to borrow the money; or 100,000 shares of common stock at $30 per share. A (Click the icon to view additonal information.) Read the requirements. Plan A Plan B Issue $3,000,000 Issue $3,000,000 of 8% Bonds Payable of Common Stock Net income before expansion 400000 400000 Expected project income before interest and income tax 500000 500000 Interest expense Less: Expected project income before income tax Income tax expense Less: Expected project net income Total company net income Earnings per share after expansion Which financing plan would you recommend based solely on EPS? Plan A Plan B i More Info - nte Before any new financing, Wakeville expects to earn net income of $400,000, and the company already has 100,000 shares of common stock outstanding. Wakeville believes the expansion will increase income before interest and income tax by $500,000. The company's income tax rate is 40%. nca Print Done on