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The company incurs costs of $22.64 million regardless of the output level. It sells 7.31 million units of its product at the price of $8.95,
The company incurs costs of $22.64 million regardless of the output level. It sells 7.31 million units of its product at the price of $8.95, and its variable costs per unit are $2.62. The company has $53 million of debt with an annual interest rate of 5.32%. What is the degree of financial leverage at the current level of sales? Round to two decimals
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