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QUESTION 6 In its most recent financial statements Driver Enterprises reported total debt of $1,711 and total assets of $5,948. In a footnote Driver reported

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QUESTION 6 In its most recent financial statements Driver Enterprises reported total debt of $1,711 and total assets of $5,948. In a footnote Driver reported 9 years of future lease obligations averaging $200 per year. The firm faces a cost of debt of 4%. Calculate the debt ratio for the company after incorporating the valuation of the lease obligations. Present your answer in percentage terms, rounded to two decimal places, e.g., 20.00%

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