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The company incurs costs of $22.41 million regardless of the output level. It sells 6.9 million units of its product at the price of $8.43,
The company incurs costs of $22.41 million regardless of the output level. It sells 6.9 million units of its product at the price of $8.43, and its variable costs per unit are $2.06. The company has $59 million of debt with an annual interest rate of 5.46%. What is the degree of financial leverage at the current level of sales? Round to two decimals.
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