Question: In the chapter introduction we learned that AT&T (T) borrowed $3 billion by issuing bonds to the public bond market. Although this may sound like

In the chapter introduction we learned that AT&T (T) borrowed $3 billion by issuing bonds to 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 debt-to-total assets ratio?

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