Question
In the past year, Blossom Corporation reported assets of $230000000. Liabilities reported on the balance sheet on the same date were reported at $69031850.
In the past year, Blossom Corporation reported assets of $230000000. Liabilities reported on the balance sheet on the same date were reported at $69031850. Blossom issued a new note payable for cash during the year. The 8%, 5-year note was issued at a face value of $4990000. What is the company's debt to asset ratio after the refinance?
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