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Memphic Memphic
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Posts: 728
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6 years ago
When using the book value of equity, the debt to equity ratio for Luther in 2009 is closest to:
A) 0.43
B) 2.29
C) 2.98
D) 3.57
Textbook 
Corporate Finance: The Core

Corporate Finance: The Core


Edition: 4th
Authors:
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Replies
wrote...
6 years ago
B
Explanation:  B) D/E = Total Debt/Total Equity
Total Debt = (notes payable (10.5) + current maturities of long-term debt (39.9) + long-term debt (239.7) = 290.1 million
Total Equity = 126.6, so D/E = 290.1/126.6 = 2.29
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