$17)$ Luther Corporation

Consolidated Balance Sheet

December $31,2022$ and $2021($in $ millions$)$

Assets $20222021$

Liabilities and

Stockholders$$ Equity $20222021$

Current Assets Current Liabilities

Cash $57\mathrm{.}658\mathrm{.}5$ Accounts payable $86\mathrm{.}073\mathrm{.}5$

Accounts receivable $55\mathrm{.}239\mathrm{.}6$

Notes payable $/$ short$-$term

debt $10\mathrm{.}59\mathrm{.}6$

Inventories $45\mathrm{.}642\mathrm{.}9$

Current maturities of

long$-$term debt $39\mathrm{.}636\mathrm{.}9$

Other current assets $5\mathrm{.}63\mathrm{.}0$ Other current liabilities $6\mathrm{.}012\mathrm{.}0$

Total current assets $164\mathrm{.}0144\mathrm{.}0$ Total current liabilities $142\mathrm{.}1132\mathrm{.}0$

Long$-$Term Assets Long$-$Term Liabilities

Land $66\mathrm{.}462\mathrm{.}1$ Long$-$term debt $231\mathrm{.}3168\mathrm{.}9$

Buildings $108\mathrm{.}391\mathrm{.}5$ Capital lease obligations

Equipment $114\mathrm{.}399\mathrm{.}6$

Less accumulated

depreciation $(54\mathrm{.}4)(52\mathrm{.}5)$ Deferred taxes $22\mathrm{.}822\mathrm{.}2$

Net property, plant, and

equipment $234\mathrm{.}6200\mathrm{.}7$ Other long$-$term liabilities$------$

Goodwill $60\mathrm{.}0--$ Total long$-$term liabilities $254\mathrm{.}1191\mathrm{.}1$

Other long$-$term assets $63\mathrm{.}042\mathrm{.}0$ Total liabilities $396\mathrm{.}2323\mathrm{.}1$

Total long$-$term assets $357\mathrm{.}6242\mathrm{.}7$ Stockholders$$ Equity $125\mathrm{.}463\mathrm{.}6$

Total Assets $521\mathrm{.}6386\mathrm{.}7$

Total liabilities and

Stockholders$$ Equity $521\mathrm{.}6386\mathrm{.}7$

Refer to the balance sheet above. If in $2022$ Luther has $10\mathrm{.}2$ million shares outstanding and these shares are trading

at $$16$ per share, then using the market value of equity, the debt$-$ equity ratio for Luther in $2022$ is closest to

$\_\_\_\_\_\_\_\_.$

A$)3\mathrm{.}45$ B$)1\mathrm{.}72$ C$)0\mathrm{.}86$ D$)2\mathrm{.}41$