Question: Problem 29-8 Measuring leverage A firm has a long-term debt-equity ratio of 0.40. Shareholders' equity is $1 million. Current assets are $200,000, and total

Problem 29-8 Measuring leverage A firm has a long-term debt-equity ratio of

Problem 29-8 Measuring leverage A firm has a long-term debt-equity ratio of 0.40. Shareholders' equity is $1 million. Current assets are $200,000, and total assets are $1.5 million. If the current ratio is 2.0, what is the ratio of debt to total long-term capital? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. > Answer is complete but not entirely correct. Debt to total long-term capital 40.00 %

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