Luther Corporation

Consolidated Balance Sheet

December 31, 2006 and 2005 (in $ millions)

Assets	2006	2005	Liabilities and Stockholders' Equity	2006	2005
Current Assets			Current Liabilities
Cash	62.5	58.5	Accounts payable	88.7	73.5
Accounts receivable	56.9	39.6	Notes payable / shortterm debt	10.8	9.6
Inventories	46.3	42.9	Current maturities of longterm debt	40.2	36.9
Other current assets	4.9	3.0	Other current liabilities	6.0	12.0
Total current assets	170.6	144.0	Total current liabilities	145.7	132.0
LongTerm Assets			LongTerm Liabilities
Land	65.5	62.1	Longterm debt	237.8	168.9
Buildings	110.9	91.5	Capital lease obligations
Equipment	118.3	99.6
Less accumulated depreciation	(55.3)	(52.5)	Deferred taxes	22.8	22.2
Net property, plant, and equipment	239.4	200.7	Other longterm liabilities
Goodwill	60.0		Total longterm liabilities	260.6	191.1
Other longterm assets	63.0	42.0	Total liabilities	406.3	323.1
Total longterm assets	362.4	242.7	Stockholders' Equity	126.7	63.6
Total Assets	533	386.7	Total liabilities and Stockholders' Equity	533	386.7

Refer to the balance sheet above. If in 2006 Luther has 10.2 million shares outstanding and these shares are trading at $16 per share, then using the market value of equity, the debt-equity ratio for Luther in 2006 is closest to:

A.