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Return ta Edgehill, Inc. has 335,000 bonds outstanding. The bonds have a par value of $1,000, a coupon rate of 5.6 percent paid semiannually, and
Return ta Edgehill, Inc. has 335,000 bonds outstanding. The bonds have a par value of $1,000, a coupon rate of 5.6 percent paid semiannually, and 13 years to maturity. The current YTM on the bonds is 5.8 percent. The company also has 8.5 million shares of stock outstanding, with a market price of $31 per share. What is the company's market value debt-equity ratio? (Do not round intermediate calculations and round your answer to 3 decimal places, e.g., 32.161.) % Answer is complete but not entirely correct. Debt-equity ratio 1.210 times
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