Question
Kaye's Kitchenware has a market/book ratio equal to 1. Its stock price is $14 per share and it has 4.5 million shares outstanding. The firm's
Kaye's Kitchenware has a market/book ratio equal to 1. Its stock price is $14 per share and it has 4.5 million shares outstanding. The firm's total capital is $125 million and it finances with only debt and common equity. What is its debt-to-capital ratio? Round your answer to two decimal places.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Financial Management For Public, Health, And Not-for-Profit Organizations
Authors: Steven A. Finkler, Daniel L. Smith, Thad D. Calabrese, Robert M. Purtell
6th Edition
150639681X, 978-1506396811
