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A firm has a long-term debt-equity ratio of 0.4 . Shareholders' equity is $0.92 million. Current assets are $380,000, and the current ratio is 2.0.

image text in transcribed A firm has a long-term debt-equity ratio of 0.4 . Shareholders' equity is $0.92 million. Current assets are $380,000, and the current ratio is 2.0. The only current liabilities are notes payable. What is the total debt ratio? Note: Round your answer to 2 decimal places. Answer is complete but not entirely correct

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