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Kaye's Kitchenware has a market/book ratio equal to 1. Its stock price is $12 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 $12 per share and it has 4.5 million shares outstanding. The firm's total capital is $110 million and it finances with only debt and common equity. What is its debt-to-capital ratio? Round your answer to two decimal places.

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