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UTT Inc. Is an all-equity firm that has 10,600 shares of stock outstanding at a market price of $33 per share. The firm's management has

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UTT Inc. Is an all-equity firm that has 10,600 shares of stock outstanding at a market price of $33 per share. The firm's management has decided to issue $64,000 worth of debt and use the funds to repurchase shares of the outstanding stock. The interest rate on the debt will be 7 percent. What is the break-even EBIT? $20,988 $26,527 $24.486 $16

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