单选题 A company has debt equal to $ 35 million and total assets of $105 million. This company makes a commitment to acquire raw materials over the next three years by making annual purchases of $ 5 million which have a present value of $12 million. For purposes of analysis, the best estimate of the debt-to-equity ratio after the appropriate analyst adjustment of the balance sheet is :

A、

A. 0.343.
B、

B. 0.500
C、

C. 0.671.

【正确答案】 C

【答案解析】The original debt-to-equity ratio = 35/70 = 0.5. An analyst should add the present value of the commitment to both assets and liahilities. Equity is unchanged. Therefore, the company' s new debt-to-equity ratio is (35 + 12)/70 =0.671.