Baxley Brothers has a market$-$to$-$book ratio equal to $1.$ Its stock price is $$15$ per share and it has $4\mathrm{.}2$ million shares outstanding. The firm's total capital is $$120$ million and it finances with only debt and common equity. What is its debt$-$to$-$capital ratio?

$47\mathrm{.}00\%$

$47\mathrm{.}64\%$

None of the Choices is Correct

$47\mathrm{.}50\%$