Northeast Lobster currently has 19,200 shares of stock outstanding. It is considering issuing $142,000 of debt at an interest rate of 6.8 percent. The break-even level of EBIT between these two capital structure options is $105,000. For this to be true, what is the current stock price? Ignore taxes.

Multiple Choice

$84.25

$91.91

$80.42

$88.08

$76.40