Franklin Corporation is comparing two different capital structures, an all-equity plan (Plan I) and a levered plan (Plan II). Under Plan I, the company would have 180,000 shares of stock outstanding. Under Plan II, there would be 130,000 shares of stock outstanding and $2.6 million in debt outstanding. The interest rate on the debt is 8 percent and there are no taxes. a. If EBIT is $575,000, what is the EPS for each plan? b. If EBIT is $825,000, what is the EPS for each plan? c. What is the break-even EBIT?