Problem 6-4 Calculating the Debt Payments-to- Income Ratio (LO6-3] Kim is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now Kim is living at home and works in a shoe store, earning a gross income of $1,200 per month. Her employer deducts $200 for taxes from her monthly pay. Kim also pays $140 on several credit card debts each month. The loan she needs for chiropractic school will cost an additional $132 per month. Help Kim make her decision by calculating her debt payments-to-income ratio with and without the college loan. (Remember the 20 percent rule.) (Enter your answers as a percent rounded to 2 decimal places.) Ratio with college loan Ratio without college loan Debt Payments-to- Income Ratio 28.33% 39.33%