University Technologies, Inc. $($UTI$)$ has a current capital structure consisting of $10$ million shares of common stock, $$150$ million of first$-$mortgage bonds with a coupon interest rate of $14$ percent, and $$50$ million of preferred stock paying a $5$ percent dividend. To expand into Asia, UTI will have to undertake an aggressive capital outlay campaign, expected to cost $$280$ million. This expansion can be financed either by selling $4$ million new shares of common stock at a price of $$70$ per share or by the sale of $$280$ million of subordinated debentures at a pretax interest rate of $14$ percent. The company$$s tax rate is $40$ percent.

Compute the EBIT$-$EPS indifference point between the equity and debt financing alternatives. Enter your answer in millions. For example, an answer of $$1\mathrm{.}11$ million should be entered as $1\mathrm{.}11,$ not $1,110,000.$ Round your answer to two decimal places.

$$$ million

If UTI expects next year$$s EBIT to be $$200$ million with a standard deviation of $$25$ million, what is the probability that the equity financing option will produce higher earnings per share than the debt financing option? $($Assume that EBIT is normally distributed.$)$ Use Table V to answer the question. Round z value in intermediate calculations to two decimal places. Round your answer to two decimal places.