Friendless, Inc., recently issued new securities to finance a new TV show. The project cost \($1\) million and the company paid \($110,000\) in flotation costs. In addition, the equity issued had a flotation cost of 15 percent of the amount raised, whereas the debt issued had a flotation cost of 2 percent of the amount raised. If Friendless issued new securities in the same proportion as its target capital structure, what is the company’s target debt-equity ratio?