Steve$$s spouse has a monthly student loan payment of $$1,207.$ Steve and his wife have no other debts, except for their

mortgage which is $$2,675/$month $($principal$,$ interest, tax, and insurance included$).$ If Steve selects Standard Repayment, what is

their debt$-$to$-$income ratio? What is the significance of the result? $($Show your work$)$