P16-4 Break-Even EBIT (LO1] James Corporation is comparing two different capital structures: an all-equity plan (Plan 1) and a levered plan (Plan II). Under Plan I, the company would have 160,000 shares of stock outstanding. Under Plan II, there would be 80,000 shares of stock outstanding and $2.8 million in debt outstanding. The interest rate on the debt is 8 percent, and there are no taxes. Required: (a)lf EBIT is $350,000, Plan I's EPS is $ while Plan Il's EPS is $ (Do not include the dollar signs ($). Round your answers to 2 decimal places. (e.g., 32.16)) (b) If EBIT is $500,000, Plan I's EPS is $ and Plan Il's EPS is $| (Do not include the dollar signs ($). Round your answers to 2 decimal places. (e.g., 32.16)) (c) The break-even EBIT is $ (Do not include the dollar sign ($). Round your answer to the nearest whole dollar amount. (e.g., 32.))