cookies 'n cream, incorporated, recently issued new securities to finance a new tv show. the project cost $14.4 million and the company paid $765,000 in flotation costs. in addition, the equity issued had a flotation cost of 7.4 percent of the amount raised, whereas the debt issued had a flotation cost of 3.4 percent of the amount raised. if the company issued new securities in the same proportion as its target capital structure, what is the company’s target debt-equity ratio? (do not round intermediate calculations and round your answer to 4 decimal places, e.g., 32.1616.)
