5. Break Even EBIT Norfolk Nascent Corporation is comparing two different capital structures, an all equity plan (Plan 1) and a levered plan (Plan II). Under Plan I Norfolk Nascent would have 200,000 shares of stock outstanding. Under Plan II, there would be 100,000 shares of stock outstanding and $1,000,000 in debt outstanding. The interest rate on the debt is 12.00% and there are no taxes. a. If EBIT is $240,000, calculate EPS for Plan I and Plan II. Plan I EPS: $ Points: 5 Plan II EPS: $. Points: 5 b. If EBIT is $360,000, calculate EPS for Plan I and Plan II. Plan I EPS: $ Plan II EPS: $ Points: 5 Points: 5 C. The break-even EBIT is $ Points: 15