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The company incurs costs of $24.27 million regardless of the output level. It sells 6.24 million units of its product at the price of $9.70,
The company incurs costs of $24.27 million regardless of the output level. It sells 6.24 million units of its product at the price of $9.70, and its variable costs per unit are $2.81. The company has $46 million of debt with an annual interest rate of 4.89%. What is the degree of operating leverage at the current level of sales? Round to two decimals.
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