Quantitative Problem: Rosnan Industries' 2019 and 2018 balance sheets and income statements are shown below.

Balance Sheets:
	2019			2018
Cash and equivalents	$	70		$	55
Accounts receivable		275			300
Inventories		375			350
Total current assets	$	720		$	705
Net plant and equipment		2,000			1,490
Total assets	$	2,720		$	2,195
Accounts payable	$	150		$	85
Accruals		75			50
Notes payable		120			145
Total current liabilities	$	345		$	280
Long-term debt		450			290
Common stock		1,225			1,225
Retained earnings		700			400
Total liabilities and equity	$	2,720		$	2,195

Income Statements:
	2019			2018
Sales	$	1,885		$	1,425
Operating costs excluding depreciation		1,250			1,000
EBITDA	$	635		$	425
Depreciation and amortization		100			75
EBIT	$	535		$	350
Interest		63			46
EBT	$	472		$	304
Taxes (25%)		118			76
Net income	$	354		$	228
Dividends paid	$	54		$	48
Addition to retained earnings	$	300		$	180
Shares outstanding		100			100
Price	$	25.00		$	22.50
WACC		10.00	%

Given the 2019 current and total assets turnover ratios calculated above, if Rosnan's 2019 quick ratio is 1.0 then an analyst might conclude that Rosnan's fixed assets are managed inefficiently.

What is the firm's 2019 debt-to-capital ratio? Round your answer to two decimal places.