Candy Land Corp. has a WACC of 12.17%. The company’s equity beta is 1.3, and its semi-annual coupon bonds have a yield-to-maturity of 8.8% (APR, semi-annually compounded). The risk-free rate is 4%, the expected return on the market portfolio is 11.5%, and the tax rate is 35%. What is Candy Land’s debt-to-equity (D/E) ratio?