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You are the CFO of Agora Shipping Company, which currently has no debt

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You are the CFO of Agora Shipping Company, which currently has no debt. You want to issue some debt, but you need to calculate the breakeven EBIT. You have the following information: With no debt, 800,000 shares outstanding and no interest expense; with debt, 400,000 shares outstanding and $50,000 of interest expense. What is your breakeven EBIT?