Rise Against Corporation is comparing two different capital structures: an all-equity plan (Plan I) and a levered plan (Plan II). Under Plan I, the company would have 170,000 shares of stock outstanding. Under Plan II, there would be 120,000 shares of stock outstanding and $2.40 million in debt outstanding. The interest rate on the debt is 7 percent, and there are no taxes.

What is the break-even EBIT?