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A company has $500 million in total assets, $10 million in notes payable, and $45.6 million in long-term debt. What is the debt ratio? Formulas

A company has $500 million in total assets, $10 million in notes payable, and $45.6 million in long-term debt. What is the debt ratio?

Formulas and Excel set up is appriciated.

Thanks!

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