Wavetown Marina needs to raise $1.3 million to expand the company. Wavetown Marina is considering the issuance of either - $1,300,000 of 7% bonds payable, or - 100,000 common shares at $13 per share. (Click the icon to view additional information.) Additional info Before any new financing, Wavetown Marina expects to earn net income of $250,000, and the company already has 100,000 shares of common shares outstanding. Wavetown Marina believes the expansion will increase income before interest and income tax by $190,000. The income tax rate is 30%