Assume the following income statement. All numbers are in millions of dollars.

Sales$625

-Cost of Goods Sold 250

=Gross Profit 375

-Overhead Expenses 200

-Depreciation Expense 150

=Earnings Before Interest

And Taxes (EBIT) 25

-Interest Expense 10

=Earnings Before Tax 15

-Tax @40% 6

=Net Income 9

Assume that the coupon rate of the firms debt of problem 1 is 10%. This implies that the firm has $100 mm of debt outstanding. Assume also that the firm has 10 million shares outstanding and the price per common stock share is $50. Assume that the firm is considering issuing $100 mm of new debt at a coupon rate of 10% and it will use the proceed to buy back 2 million shares of common stock. Determine the break-even sales level for the two financial scenarios: one with the firm does not issue any more debt and one that it issues another $100 million of debt.

Please show work in excel.