In the chapter introduction we learned that AT& T (T) borrowed $ 3 billion by issuing bonds in the public bond market. Although this may sound like a lot of money, AT& T owed almost $ 65 billion in corporate debt at the end of 2011. The company had over $ 270 billion in total assets in 2011. How much will the new bond issue increase AT& T’s debt- to- total- assets ratio?
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