You have been asked to calculate the debt ratio for a firm that has following components to its financing firms:(a) the firm has 1 million shares outstanding,trading at $50 per share (b) the firm has &25 milion in straight debt,carrying a market interest rate of 8%, (c) the firm has 20,000 convertible bonds outstanding , witha face value of $1000, a market value of $1100, and a coupon rate of 5% (10 year semi annual).Estimate the debt ratio of the firm.You may also use market risk premium as 5.5% and tax rate as 40% if required.