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Problem 4 - 2 1 Leverage ( RANDOM ) A firm has a long - term debt - equity ratio of 0 . 4 .

Problem 4-21 Leverage (RANDOM)
A firm has a long-term debt-equity ratio of 0.4. Shareholders' equity is $845,900. Current assets are $265,700, and the current ratio is 1.82. The only current liabilities are notes payable. What is the total debt ratio? (Round your answer to 2 decimal places.)
Total debt ratio
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