Recently, a bank was trying to decide what fee to charge for "expedited payments"long dash payments that the bank would transmit extra speedily to enable customers to avoid late fees on cable tv bills, electric bills, and the like. to try to determine what fee customers were willing to pay for expedited payments, the bank conducted a survey. it was able to determine that many of the people surveyed already paid fees for services that exceeded the maximum fees that they said they were willing to pay. this illustrates that

Anew firm is developing its business plan. it will require $615,000 of assets, and it projects $450,000 of sales and $355,000 of operating costs for the first year. management is reasonably sure of these numbers because of contracts with its customers and suppliers. it can borrow at a rate of 7.5%, but the bank requires it to have a tie of at least 4.0, and if the tie falls below this level the bank will call in the loan and the firm will go bankrupt. what is the maximum debt ratio the firm can use? (hint: find the maximum dollars of interest, then the debt that produces that interest, and then the related debt ratio.)a. 41.94%b. 44.15%c. 46.47%d. 48.92%e. 51.49%