Need the clear explanation with the formula of option c

4. Break-Even EBIT [LO1] Round Hammer is comparing two different capital struc- tures: An all-equity plan (Plan I) and a levered plan (Plan II). Under Plan I, the com- pany would have 180,000 shares of stock outstanding. Under Plan II, there would be 130,000 shares of stock outstanding and $1.925 million in debt outstanding. The interest rate on the debt is 8 percent, and there are no taxes. a. If EBIT is $400,000, which plan will result in the higher EPS? b. If EBIT is $600,000, which plan will result in the higher EPS? c. What is the break-even EBIT?