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The Dandy Doodle Corporation has a weighted average cost of capital of 10.4 percent. You calculate the companys cost of equity is 13 percent, and

The Dandy Doodle Corporation has a weighted average cost of capital of 10.4 percent. You calculate the companys cost of equity is 13 percent, and its pretax cost of debt is 8.4 percent. Given the tax rate is 40 percent, calculate the companys target debt to equity ratio? (Do not round intermediate calculations and round your final answer to 4 decimal places, e.g., 32.1616.)

Debt?equity ratio=?

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