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25) Within the framework of "InnovateTech Enterprises," renowned for its pioneering software "TechGenius," vour focus as the CFO is to evaluate the financial leverage, given the ahsence of common stocks. Key specifies relevant to the firm: Singular Product: "TechGenius" - an innovative software solution Units Produced: 100,000 licenses of the software Variable Costs: 50% of the selling price of each licer se Selting Price; sto per sofware tiecrse Fixed Costs: $200,000 covering infrastructure, and \$100,000 as operational expenses Financial Strueture: $1 miltion bond with a $% coupon rate Preferred Stock: 10,000 shares of preferred stock issued, each vith a face value of $100 and an annuat dividend of 3% Company Tax Rate: 21% Notably, "InnovateTech Enterprises" does not issue common stocks, relying instead on a capital structure featuring preferred stocks and bonds. These elemente play nivotal roles in shaping the company's financial landscape. Your role as the CFO involves determining the degree of total leverage (DTL). In this unique financial framework, what precisely is the degree of total leverage