MNO Corporation has $695,000 of assets (which equal total invested capital), and it uses no debt - it is financed only with common equity. The new CFO wants to employ enough debt to raise the total debt to tota capital ratio to 40%, using the proceeds from borrowing to buy back common stock at its book value 1 row much must the firm borrow to achieve the target debt ratio? a. $344,720 b. $294,680 C. $219,620 d. $278,000 e. $247,420