3. Taylor & Co. had earnings per share of $3.50, and it paid a $0.90 dividend. Total retained earnings increased by $5,200,000 during the year, while book value per share at the end of the year was $32. Taylor has no preferred stock, and no new common stock was issued during the year. If Taylor's year-end debt liabilities) was $60 million, what was the company's debt/assets ratio? (hint: Use the R/E increase to calculate the number of shares, then used the book value per share to calculate total common equity. Remember total assets equals total (a. 0.4839) a. 0.4839 b. 0.2914 C. 0.3191 d. 0.2875 e. 0.2982