Question $32$ pts

Hotel Cortez is an all$-$equity firm that has $10,300$ shares of stock outstanding at a market price of $$32$ per share. The firm's management has decided to issue $$62,000$ worth of debt and use the funds to repurchase shares of the outstanding stock. The interest rate on the debt will be $6$ percent. What is the break$-$even EBIT?

Group of answer choices

$16951$

$19776$

$12$

$13$

$21424$