Multiple Choice
Luther Corporation Consolidated Balance Sheet
December 31, 2006 and 2005 (in $ millions) Refer to the balance sheet above. If in 2006 Luther has 10.2 million shares outstanding and these shares are trading at $16 per share, then using the market value of equity, the debt-equity ratio for Luther in 2006 is closest to ________.
A) 3.45
B) 1.72
C) 0.86
D) 2.41
Correct Answer:

Verified
Correct Answer:
Verified
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