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Leverage Ratios

Debt to Equity = Long Term Debt ÷ Equity Formula: DTE = LTD ÷ E

Net Debt = (Long Term Debt + Notes Payable — Cash) ÷ (LTD + NP — Cash + Equity) Formula: ND=(LTD+NP-C)÷(LTD+ NP—C+E)

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