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Macfarlane, Inc., recently issued new securities to finance a new TV show. The project cost $ 1 4 . 8 million and the company paid
Macfarlane, Inc., recently issued new securities to finance a new TV show. The project cost $ million and the company paid $ in flotation costs. In addition, the equity issued had a flotation cost of percent of the amount raised, whereas the debt issued had a flotation cost of percent of the amount raised. If the company issued new securities in the same proportion as its target capital structure, what is the companys target debtequity ratio? Do not round intermediate calculations and round your answer to decimal places, eg
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