Taylor & Co. had earnings per share of $3.50, and it paid a $0.90 dividend. Total retained earnings increases by 5,200,000 during the year, while book value per share at the end of the year was $32. Taylor has no preferred stock and no new common stock was issued during the year. If Taylor's year-end debt (liabilities) was $60 million, what was the company's debt/assets ratio?

The answer is 0.4839, I just don't know how to get there.