Last year, Arbor Corporation reported the following:

Balance Sheet
Total Assets	$	1,160,000
Total Liabilities		740,000
Total Shareholders' Equity	$	420,000
This year, Arbor is considering whether to issue more debt to fund a $100,000 project or to issue additional shares of common stock. Both options will bring in exactly $100,000. Arbor's current debt contracts contain a debt covenant that requires it to maintain a debt-to-equity ratio of 2.00 or less. Required: 1. Calculate Arbor's current debt-to-equity ratio. (Round your answer to 2 decimal places.) 2. Calculate Arbor's debt-to-equity ratio assuming it funds the project using additional debt. (Round your answer to 2 decimal places.) 3. Calculate Arbor's debt-to-equity ratio assuming it funds the project by issuing common stock. (Round your answer to 2 decimal places.)