On December 31, 2015, Panettone inc. has total liabilities of $555500 and total equity of $1049500. The company needs to raise additional funds through debit and equity. The company will issue 4000 shares of common stock at $13.25 per share in addition it intends to borrow as much as it can. The bank requires a maximum debt-to-asset ratio of 0.64. What is the maximum additional amount the company can borrow after the additional stock is issued?

choice b, none of these is listed as correct with:

(555500 + x) / (1658000 + x) = .64

how do you solve for x?