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Northwestern Lumber Products currently has 23,500 shares of stock outstanding. Patricia, the financial manager, is considering issuing $171,000 of debt at an interest rate of

Northwestern Lumber Products currently has 23,500 shares of stock outstanding. Patricia, the financial manager, is considering issuing $171,000 of debt at an interest rate of 7.6 percent. Given this, how many shares of stock will be outstanding once the debt is issued if the break-even level of EBIT between these two capital structure options is $77,000? Ignore taxes. 16,743.16 shares 18,231.44 shares 19,533.69 shares 21,161.50 shares 18,557.00 shares

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