Calculate debt service burden and rate of debt payback

Assume the following information was derived from the fund financial statements prepared by the city of Tallahassee, Florida for the fiscal year ended September 30, 2019:

City of Tallahassee
General Fund
Balance Sheet
(in thousands)
Assets:
Cash and cash equivalents	$2,480
Due from other governments	0
All other assets	11,848
Total assets	$14,328
Liabilities:
Total current liabilities	$11,287
Fund balance:
Nonspendable	1,500
Committed	0
Assigned	0
Unassigned	1,541
Total fund balance	3,041
Total liabilities and fund balance	$14,328

City of Tallahassee
General Fund
Statement of Revenues, Expenditures,
and Changes in Fund Balance
(in thousands)
Total revenues	$109,901
Total expenditures	164,473
Excess of revenues over (under) expenditures	-54,572
Other financing sources (uses):
Transfers in	49,597
Transfers out	-21,522
Proceeds from sale of capital assets	430
Total other financing sources (uses)	28,505
Net change in fund balance	-26,067
Fund balance, October 1, 2019	29,108
Fund balance, September 30, 2019	$3,041

Assume the city of Tallahassees total tax-supported debt service expenditures in fiscal year 2019 were $7,940 thousand. The schedule of debt service requirements in the notes to the 2019 financial statements showed that Tallahassees total governmental activity debt was $96,125 thousand, of which $37,515 thousand was scheduled to be paid off between 2020 and 2024, $17,475 thousand was scheduled to be paid off between 2025 and 2029, and the remainder was scheduled to be paid off between 2030 and 2039. Calculate the following for the city of Tallahassee: Round all percentages to one decimal. a) debt service burden Answer

% b) percentage of debt principal payback in the next five years Answer% c) percentage of debt principal payback in the next ten years Answer% d) How does the city of Tallahassee's debt principal payback over the next ten years compare to the credit agency norms described in the textbook? AnswerMore rapidly than the normMore slowly than the normRight at the norm