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The company incurs costs of $22.92 million regardless of the output level. It sells 7.36 million units of its product at the price of $9.08,
The company incurs costs of $22.92 million regardless of the output level. It sells 7.36 million units of its product at the price of $9.08, and its variable costs per unit are $2.75. The company has $51 million of debt with an annual interest rate of 4.59%. What is the degree of combined leverage at the current level of sales? Round to two decimals.
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