Question: I have tried several solutions provided and none come back correct. Another answer 55.60 is not correct. Binomial Tree Farm's financing includes $5.30 million of

I have tried several solutions provided and none come back correct.

I have tried several solutions provided and none come back correct. Another answer 55.60 is not correct.

Binomial Tree Farm's financing includes $5.30 million of bank loans and $6.30 million book (face) value of 10-year bonds, which are selling at 95% of par value. Its common equity is shown in Binomial's Annual Report at $6.97. It has 530,000 shares of common stock outstanding which trade on the Wichita Stock Exchange at $17 per share. What debt ratio should Binomial use to calculate its WACC? (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Market debt ratio 39.91

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