In the past year, Pharoah Corporation reported assets of $232046000. Liabilities reported on the balance sheet on the same date were reported at $68965232. Pharoah 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? 29.09%29.72%31.20%31.87%