A company's assets consist of $45,000 of cash, $225,000 of accounts receivable, $350,000 of inventory, and $950,000 of plant and equipment. Its liabilities consist of $260,000 of accounts payable, $125,000 of accruals, and $700,000 of long-term debt. The company's annual sales are $3,575,000, its earnings before interest and taxes are $650,000, it paid $75,000 of interest, and its tax rate is 33%. What is the company's equity multiplier? O 1) 3.4 O 2) 2.6 3) 2.8 4) 3.2 5) 2.3