The market value of a company$$s assets is currently $$22,300,000,$ and the company has a policy

of paying out all of its cash flows from assets, after interest expenses, as dividends. The

company believes that if the economy is strong this year, it will generate a cash flow of

$$5,600,000$ and pay out dividends of $$4\mathrm{.}80$ per share. The company currently has $1,100,000$

shares of stock outstanding, and pays interest on its debt at a rate of $8\mathrm{.}5\%.$ What is the

company$$s current debt$-$to$-$equity ratio?

The correct answer is $25\mathrm{.}1\%.$