Neal Enterprises has no debt. Its current total value is $73.6 million. Assume the company sells $33.8 million in debt.

Requirement 1:

Ignoring taxes, what is the debt-equity ratio? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Debt-equity ratio

Requirement 2:

Assume the companys tax rate is 36 percent. What is the debt-equity ratio? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Debt-equity ratio