Chunky Cheese Pizza has $60.9 million in bonds payable. The bond indenture states that the debt to equity ratio cannot exceed 3.11. Chunky's total assets are $200.9 million, and its liabilities other than the bonds payable are $90.9 million. The company is considering some additional financing through leasing.

4-a.Will entering into the lease cause the debt to equity ratio to be in violation of the contractual agreement in the bond agreement?

• Yes
• No

4-b.Calculate the debt to equity ratio.(Enter your answer in millions. (i.e., $5,500,000 should be entered as 5.5). Round ratio answer to 2 decimal places.)