Assume that XYZ Corporation is a leveraged company with the following information:

Kl $=$ cost of equity capital for XYZ $=13\%$

i $=$ before$-$tax borrowing cost $=8\%$

t $=$ marginal corporate income tax rate $=30\%$

Calculate the debt$-$to$-$total$-$market$-$value ratio that would result in XYZ having a weighted average cost of capital of $9\mathrm{.}3$ percent.

Group of answer choices

$35$ percent

$40$ percent

$45$ percent

$50$ percent