View po You currently own 1,500 shares of JKL, Inc. JKL is currently an all equity that has 700,000 shares of stock outstanding at a market price of $30 a share. The company's earnings before interest and taxes are $4,200,000. JKL recently decided to issue $4,200,000 of debt at 7 percent interest. This debt will be used to repurchase shares of stock. Ignore taxes and answer the following two questions: points Part A: What is JKL's target debt to asset ratio? eBook Print Part B: How many shares of JKL stock must you sell to undo the leverage? Assume that you can loan out those funds at 7 percent interest. References