Kelso Electric Is an all-equity firm with 59,000 shares of stock outstanding. The company is considering the issue of $400,000 in debt at an Interest rate of 6 percent and using proceeds to repurchase...

Kelso Electric Is an all-equity firm with 59,000 shares of stock outstanding. The company is considering the issue of $400,000 in debt at an Interest rate of 6 percent and using proceeds to repurchase stock. Under the new capital structure, there would be 37,000 shares of stock outstanding. Ignore taxes. What is the break-even EBIT between the two plans?