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A company has 6.93 million common shares outstanding and $72 million of debt with an interest rate of 5.8%. The company wants to raise another

A company has 6.93 million common shares outstanding and $72 million of debt with an interest rate of 5.8%. The company wants to raise another $57.6 million. It can do so by selling an additional 3.465 million shares of common stock (the equity plan) or by taking out a bank loan with an interest rate of 7.3% (the debt plan). The company has no preferred stock. The corporate tax rate is 23%. At what level of EBIT would the company have the same earnings per share (EPS) under either plan? Specify the answer in $ mln., to the nearest $0.01 mln., drop the $ symbol.

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