23. A firm has total debt of $1,220 and a debt-equity ratio of 0.40. What is the value total assets? (a) $488.00 (b) $1,708.00 (d) $4,270.00 ) $3,253.33 24. Recently, the owner of Rent-a-car 1313 Co. encountered severe legal problens that is trying to sell her business. The company built a building at a cost of $1,140, currently appraised at $1,340,000. The equipment originally cost $620,000 an currently valued at $367,000. The inventory is valued on the balance sheet at but has a market value of only two-third of that amount. The o percent o total of $1,040,000. Th What is the market value of this firm? (a) $1,048,644 (c) $725,444 d is $300,000 owner expects to collect n accounts receivable. The firm has S11,700 in cash and ower e legal problems are personal and unrelated to the actual busine f the S175,200 i (b) $1,355,644 (d) $537,000 25. In times of rising sales revenue, it would be better to: (a) Have a business with high fixed costs relative to variable costs (b) Have high variable costs relative to fixed costs (c) Try and convert some of the fixed costs into variable ones (d) Change direct costs into indirect costs