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Bostian, Inc. has total assets of $745,000. Its total debt outstanding is $185,000. The Board of Directors has directed the CFO to move towards a

Bostian, Inc. has total assets of $745,000. Its total debt outstanding is $185,000. The Board of Directors has directed the CFO to move towards a debt-to-assets ratio of 55%. How much debt must the company add or subtract to achieve the target debt ratio?

Select the correct answer.

a. $224,808
b. $224,750
c. $224,867
d. $224,984
e. $224,925

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