What would be the debt ratio of the firm

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Question: In its most recent financial statements Driver Enterprises reported total debt of $218 million and total assets of $460 million. Using footnote data and a discount rate of 6.5%, you have calculated the present value of its future lease obligations to be $76 million. What would be the debt ratio of the firm after incorporating the valuation of the lease obligations? Present your answer in percentage terms, rounded to one decimal place, e.g., 23.4%.

Reference no: EM133430262

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