Break$-$even EBIT$($with $$taxes$).$Beta$,$ Gamma, and Delta Companies are similar in every way except for their capital structures. Beta is an$$ all$-$equity firm with $$$$3$ comma $600$ comma $000$ of value and $100$ comma $000$ shares outstanding. Gamma is a levered firm with the same value as$$ Beta, but $$$$1$ comma $080$ comma $000$ in debt at $9\%$ and $70$ comma $000$ shares outstanding. Delta is a levered firm with the same value as both Beta and Gamma with $ $2$ comma $160$ comma $000$ in debt at $12\%$ and $40$ comma $000$ shares outstanding. What are the$$ break$-$even EBITs for Beta and$$ Gamma, Beta and$$ Delta, and Gamma and Delta Companies if the corporate tax rate is $40\%$ for all three$$ companies?

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Part $1$

What is the$$ break$-$even EBIT for Beta and Gamma$$ companies?