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​Doug's Boat​ Shop, Inc. reports operating income of $ 300,000 and interest expense of $36,000.

The average common​ stockholders' equity during the year was $20,000.

The beginning assets balance is $55,000

and ending assets balance is $160,000.

What is the leverage​ ratio? (Round your final answer to two decimal​ places.)

A. 10.75

B. 7.15

C. 24.80

D. 5.38

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