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Jones Corp is considering two different capital structures. It currently has 18,500 shares of stock outstanding. It is considering issuing $100,000 of debt at an

Jones Corp is considering two different capital structures. It currently has 18,500 shares of stock outstanding. It is considering issuing $100,000 of debt at an interest rate of 6.3 percent. The break-even level of EBIT between these two capital structure options is $77,000. For this to be true, what is the current stock price? Ignore taxes.

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