The company also has 95 million shares of stock outstanding


Frusciante, Inc. has 165,000 bonds outstanding. The bonds have a par value of $2,000, a coupon rate of 5.1 percent paid semiannually, and 8 years to maturity. The current YTM on the bonds is 5.3 percent. The company also has 9.5 million shares of stock outstanding, with a market price of $31 per share. What is the company’s market value debt–equity ratio? (Do not round intermediate calculations and round your answer to 3 decimal places, e.g., 32.161.)

Debt–equity ratio     times

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Financial Management: The company also has 95 million shares of stock outstanding
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