Home / Questions / Owen Co is considering the following alternative financing plans Plan 1 Plan 2 Issue 7% b...
Owen Co. is considering the following alternative financing plans:
| Plan 1 | Plan 2 | |||
| Issue 7% bonds (at face value) | $5,000,000 | $3,400,000 | ||
| Issue preferred $1 stock, $20 par | — | 3,600,000 | ||
| Issue common stock, $25 par | 5,000,000 | 3,000,000 | ||
Income tax is estimated at 40% of income.
Determine theearnings per share of common stock, assuming income beforebondinterest and income tax is $750,000.
Enter answers in dollars and cents, rounding to the nearest whole cent.
| Plan 1 | $Earnings per share on common stock |
| Plan 2 | $Earnings per share on common stock |
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