Question: Problem 4-21 Leverage (LO3) A firm has a long-term debt-equity ratio of .4. Shareholders equity is $1 million. Current assets are $200,000, and the current

Problem 4-21 Leverage (LO3)

A firm has a long-term debt-equity ratio of .4. Shareholders equity is $1 million. Current assets are $200,000, and the current ratio is 2. The only current liabilities are notes payable. What is the total debt ratio? (Round your answer to 2 decimal places.)

Total debt ratio

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