If in 2009, Lowel has 10 million shares outstanding and these shares are trading at $31 per share, then using the market value of equity, the debt to equity ratio (use only interest bearing debts) for Lowel in 2009 is closest to:

2.37
		2.15
		1.03
		.70

2009 2008 Assets Current Assets Cash 90.3 58.5 Accounts receivable 59.5 39.6 Liabilities and Stockholders' Equity 2009 2008 Current Liabilities Accounts payable 100.6 73.5 Notes payable short-term debt 29.5 9.6 Current maturities of long- term debt 39.9 36.9 Other current liabilities 6.0 12.0 Total current liabilities 176.0 132.0 Inventories 45.9 42.9 Other current assets 9.0 3.0 Total current assets 204.7 144.0 72.6 62.1 249.3 168.9 Long-Term Liabilities Long-term debt Capital lease obligations Total Long-term Debt 109.5 91.5 Long-Term Assets Land Buildings Equipment Less accumulated depreciation Net property, plant, and equipment 129.2 99.6 249.3 168.9 (57.0) (52.5) Deferred taxes 25.7 222 254.3 200.7 Goodwill 64.0 Other long-term liabilities Total long-term liabilities 275.0 191.1 Total liabilities 451.0 323.1 Stockholders' Equity 135.3 63.6 63.3 42.0 Other long-term assets Total long-term assets 381.6 242.7 Total liabilities and Stockholders' Equity Total Assets 586.3 386.7 586.3 386.7