Neal Enterprises has no debt. Its current total value is $72 million. Assume the company sells $33 million in debt.
Requirement 1: Ignoring taxes, what is the debt-equity ratio? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
Requirement 2: Assume the company’s tax rate is 32 percent. What is the debt-equity ratio? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)