Given below are abstract of the financial information relates to RAJ Co, which has considering raising $ 50 million of new debt finance to support existing business operations. Assume that it is now 31 Dec 2015. RAJ Co has been experiencing trading difficulties due to a continuing depressed level of economic activity: Financial information for recent years ending 31 December

RAJ Co,	2015 $m	2014 $m	2013 $m
Profit before interest and tax	25.3	26.6	29.3
Interest charges	5.5	5.3	4.8
profit before tax	19.8	21.3	24.5
Taxation expense	5.9	6.4	7.3
Net profit	13.9	14.9	17.2
Debt ratio	47%