True or False: The amount of Senators that each state has is based on the population of the state.

True

Explanation:

Each state sends two Senators to represent their state in the U.S. Senate. However, in the House of Representatives, a state's representation is based on its population.

$1.62

Explanation:

Calculation to determine the break even EBIT

First step is to determine the Number of shares purchased

Number of shares purchased= $25,000 / $25

Number of shares purchased= $1,000

Second step is to determine the EBIT

EBIT / 10,000 = [EBIT - ($25,000 * 0.073)] / (10,000 - 1,000)

EBIT / 10,000 = (EBIT - $1,825) / 9,000

9,000 EBIT = 10,000 EBIT - $16,425,000

1,000 EBIT = $16,425,000

EBIT=$16,425,000/1,000

EBIT = $16,425

Now let determine the Earning per Shares at Break-even level of earning

Earning per Shares at Break-even level of earning= [EBIT - ($25,000 * 0.073)] / (10,000 - 1,000)

Earning per Shares at Break-even level of earning= ($16,425 - $1,825) / 9,000

Earning per Shares at Break-even level of earning= $14,600 / 9000

Earning per Shares at Break-even level of earning= $1.62

Therefore the break even EBIT is $1.62