2005 Assets Current Assets Cash Luther Corporation Consolidated Balance Sheet December 31, 2006 and 2005 (in $ millions) Liabilities and 2006 2005 Stockholders' Equity 2006 Current Liabilities 51.5 58.5 Accounts payable 89 Notes payable/ 54.5 39.6 short-term debt 10.6 Current maturities of 45.8 42.9 long-term debt 40.2 4.9 3.0 Other current liabilities 6.0 73.5 Accounts receivable 9.6 Inventories Other current assets 36.9 12.0 T. AAAA TEL.GEL. O A. 4.35 OB. 2.17 O c. 1.09 OD. 3.04 Total current assets 156.7 144.0 Total current liabilities 145.8 132.0 62.1 Long-Term Liabilities Long-term debt Capital lease obligations 224.9 66.5 110.2 120.4 168.9 91.5 99.6 (56.5) (52.5) Deferred taxes 22.8 22.2 Long-Term Assets Land Buildings Equipment Less accumulated depreciation Net property, plant, and equipment Goodwill Other long-term assets Total lona - term assets O A. 4.35 OB. 2.17 O C. 1.09 240.6 60.0 63.0 363.6 200.7 Other long-term liabilities Total long-term liabilities 42.0 Total liabilities 2427 Stockholders' Equity 247.7 393.5 126.8 191.1 323.1 63.6 OD.3.04 Yipi. (56.5) (52.5) Deferred taxes 22.8 22.2 Less accumulated depreciation Net property, plant, and equipment Goodwill Other long-term assets Total long-term assets 240.6 60.0 63.0 363.6 200.7 Other long-term liabilities Total long-term liabilities 42.0 Total liabilities 242.7 Stockholders' Equity 247.7 393.5 126.8 191.1 323.1 63.6 Total liabilities and Total Assets 520.3 386.7 Stockholders' Equity 520.3 386.7 Refer to the balance sheet above. When using the book value of equity, the debt-equity ratio for Luther in 2006 is closest to: O A. 4.35 OB. 2.17 O C. 1.09 OD.3.04