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Waketown Marina needs to raise $0.8 million to expand the company. Waketown Marina is considering...

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Accounting

image Waketown Marina needs to raise $0.8 million to expand the company. Waketown Marina is considering the issuance of either - $800,000 of 6% bonds payable, or - 100,000 common shares at $8 per share. (Click the icon to view additional information.) nearest cent.) Additional info Before any new financing, Waketown Marina expects to earn net income of $250,000, and the company already has 100,000 shares of common shares outstanding. Waketown Marina believes the expansion will increase income before interest and income tax by $140,000. The income tax rate is 40%

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