Problem 13-15 M&M [LO 1) Bird Enterprises has no debt. Its current total value is $49.6 million. Assume the company sells $19.7 million in debt. a. Ignoring taxes, what is the debt-equity ratio? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. Assume the company's tax rate is 23 percent. What is the debt-equity ratio? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Debt-equity ratio b. Debt-equity ratio