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Jones Soda estimates that its cost of capital is 9.80 percent. You observe that the company's required return on stock is 15.00 percent and the

Jones Soda estimates that its cost of capital is 9.80 percent. You observe that the company's required return on stock is 15.00 percent and the (after-tax) yield to maturity on its debt is 2.00 percent. What is the debt-to-equity ratio? Round your answer to two decimals.

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