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Northeast Lobster currently has 2 0 , 4 0 0 shares of stock outstanding. It is considering issuing $ 2 1 4 , 0 0

Northeast Lobster currently has 20,400 shares of stock outstanding. It is considering issuing $214,000 of debt at an interest rate of 8.0 percent. The break-even level of EBIT between these two capital structure options is $153,000. For this to be true, what is the current stock price? Ignore taxes.

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