D Sand Key Development Company has a capital structure consisting of $20 million of 10% debt and $30 million of common equity. The firm has 500,000 shares of common stock outstanding. Sand Key is planning a major expansion and will need to raise $ 15 million. The firm must decide whether to finance the expansion with debt or equity. If equity financing is selected, common stock will be sold at $75 per share. If debt financing is chosen, 6% coupon bonds will be sold. The firm's marginal tax rate is 34%. Determine the level of operating income at which Sand Key would be indifferent between debt financing and equity financing Question 9 1 pts Kiwi Airlines has fixed operating costs of $3 million, and its variable costs amount to 21 percent of sales revenue. The firm has $2 million in bonds outstanding with a coupon interest rate of 8 percent. Revenues for the firm are $10 million and the firm is in the 21 percent corporate income tax bracket. What is the firm's degree of operating leverage? SET YOUR CALCULATOR TO 4 DECIMAL PLACES. ROUND TO 2 DECIMAL PLACES AT THE END. FOR EXAMPLE, IF YOUR ANSWER IS 9.4567, ENTER IT AS 9.46. 1.61 Question 16 1 pts Tom's Trashbins Inc. has fixed costs of $226,039. The firm's sales are expected to be $425,316 this year if the firm sells 9.457 units. Variable costs amount to 42 percent of sales. What is the breakeven point in units for Tom's Trashbins? SET YOUR CALCULATOR TO 4 DECIMAL PLACES. ROUND TO THE NEAREST WHOLE NUMBER AT THE END. FOR EXAMPLE, IF YOUR ANSWER IS 8297.6901, ROUND TO 8298. 8,666