Frusciante, Inc. has 205,000 bonds outstanding. The bonds have a par value of $2,000, a coupon rate of 6.6 percent paid semiannually, and 12 years to maturity. The current YTM on the bonds is 6.9 percent. The company also has 11 million shares of stock outstanding, with a market price of $23 per share. What is the companys market value debtequity ratio?