Use the information below to answer this question.

ABC Corporation

Selected Financial Statement Information for the Year Ended December $31$

$($In millions except per share data$)$

INCOME STATEMENT $($PERIOD $20$X$1)$

Sales $$8,500$

Cost of Goods Sold $-6,800$

Gross Profit $1,700$

General & admin. expenses $-200$

Depreciation expense $-500$

Interest expense $-150$

Income before tax $850$

Tax expense $-310$

Net income $540$

Earnings per share $$2\mathrm{.}84$

BALANCE SHEET

$20$x$1($Beginning$)20$x$1($Endings$)$

Assets

Cash $360380$

Marketable Securities $300100$

Receivables $1,100130$

Inventories $600910$

Other $1,900660$

Total Current Assets $4,2602,180$

Property, Plant & Equipment $5,2303,400$

Other Assets $2,3001,000$

Total Assets $$11,790$ $$6,580$

Liabilities and Shareholder's Equity

Accounts Payable $2,8001,300$

Long$-$Term Debt $2,400900$

Other Liabilities $1,5001,400$

Total Liabilities $6,7003,600$

$8\%$ Preferred Stock $500500$

Common Stock $2,0001,800$

Retained Earnings $2,590680$

Total Liabilities & Shareholder's Equity $$11,790$ $$6,580$

The debt to equity ratio is closest to: