The financial statements of Flathead Lake Manufacturing Company are shown below.

Income Statement $2020$

Sales $ $9,300,000$

Cost of Goods Sold $5,750,000$

Depreciation Expense $550,000$

Gross Profit $ $3,000,000$

Selling and Administrative Expenses $2,200,000$

EBIT $ $800,000$

Interest Expense $200,000$

Income before Tax $ $600,000$

Taxes $375,000$

Net Income $ $225,000$

Flathead Lake Manufacturing

Comparative Balance Sheets

$20202019$

Cash $ $50,000$ $ $40,000$

Accounts Receivable $570,000600,000$

Inventory $530,000460,000$

Total Current Assets $ $1,150,000$ $ $1,100,000$

Fixed Assets $2,050,0001,400,000$

Total Assets $ $3,200,000$ $ $2,500,000$

Accounts Payable $ $320,000$ $ $300,000$

Bank Loans $480,000400,000$

Total Current Liabilities $ $800,000$ $ $700,000$

Long$-$term Bonds $1,500,0001,000,000$

Total Liabilities $ $2,300,000$ $ $1,700,000$

Common Stock $(200,000$ shares$)200,000200,000$

Retainded Earnings $700,000600,000$

Total Equity $ $900,000$ $ $800,000$

Total Liabilities and Equity $ $3,200,000$ $ $2,500,000$

Note: The common shares are trading in the stock market for $$15$ per share.

Refer to the financial statements of Flathead Lake Manufacturing Company. The firm's compound leverage ratio is $\_\_\_\_\_\_\_\_\_\_.($Please keep in mind that when a ratio involves both income statement and balance sheet numbers, the balance sheet numbers for the beginning and end of the year must be averaged.$)$