IZAX, Co. has the following items on its balance sheet: Assets Liabilities and Equity Cash $ 54 comma 600 Debt $ 103 comma 000 PPE $ 351 comma 900 Equity $ 303 comma 500 Its net income this year is $ 20 comma 400 and it pays dividends of $ 4 comma 600. If it grows at its internal growth rate, what will its debt/equity ratio be next year?

The internal growth rate is nothing%. (Round to two decimal places.)