You currently own 1.200 shares of JKL, Inc. JKL is currently an all equity that has 700,000 shares of stock outstanding at market price of $20 a share. The company's earnings before interest and taxes are $2,800,000 KL recently decided to issue $1,400,000 of debt at 8 percent interest. This debt will be used to repurchase shares of ck. Ignore taxes and answer the following two questions: 4. What is JKL's target debt to asset ratio? How many shares of JKL stock must you sell to undo the leverage? Assume that you can loan out those funds Interest