Katz is an all-equity development company that has 52,000 shares of stock outstanding at a market price of $32 a share. The firm's earnings before interest and taxes are $46,000. Katz has decided to issue $176,000 of debt at a rate of 8 percent and use the proceeds to repurchase shares. What should Leslie do if she owns 500 shares of Katz stock and wants to use homemade leverage to offset the leverage being assumed by the firm?

Borrow money and buy an additional 53 shares

Borrow money and buy an additional 56 shares

Sell 48 shares and loan out the proceeds

Sell 56 shares and loan out the proceeds

Sell 53 shares and loan out the proceeds

I got 59.139 which is wrong. please show all steps