Chestnut, Incorporated reported the following balances on its balance sheet at December 31, Year 1: Total Assets Total Liabilities. Common Stock Retained Earnings Total Equity Total Liabilities and Equity $238,000 $ 82,000 85,000 71,000 156,000 $238,000 On January 1, Year 2, Chestnut purchased equipment for $44,000 on account. What is the company's debt-to-assets ratio immediately after the purchase of the equipment? Note: Round your answer to 2 decimal places.