Last year K. Billings worth & Co. had earnings per share of $4 and dividends per share of $2. Total retained earnings in

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Last year K. Billings worth & Co. had earnings per share of
$4 and dividends per share of $2. Total retained earnings increased
by $12 million during the year, while book value per share at
year-end was $40. Billings worth has no preferred stock, and no new
common stock was issued during the year. If its year-end total debt
was $120 million, what was the company’s year-end total debt to the
total capital ratio?
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