Which of these two industries would likely have a higher average debt-to-equity ratio and why?

Biotech, Trucking.

Group of answer choices

The biotech industry, because it likely has more volatile earnings relative to the trucking industry.

The biotech industry, because it likely has more intangible assets on the balance sheet compared to the trucking industry.

The trucking industry, because it likely has more tangible assets on the balance sheet compared to the biotech industry.

The trucking industry, because it likely has higher costs of financial distress relative to the biotech industry.