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The current balance sheet reports total assets of $20 million, total liabilities of $2 million, and owners equity of $18 million. The company is considering
The current balance sheet reports total assets of $20 million, total liabilities of $2 million, and owners equity of $18 million. The company is considering several financing possibilities in order to expand operations. What is the additional amount that the company can borrow and exceed a debt-to-equity ratio of 0.3 ? a- 4.0 million b- 5.4 million c- 3.4 million d- 5.5 million
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