At December 31, 20X1, Lexor Corp. had $150,000 current assets, $48,000 in long-term investments, $750,000 in fixed assets net of depreciation. In addition, the company had $160,000 in accounts payable and a long-term note payable in the amount of $100,000 with the balance due in 5 years. On December 31, 20X2, Lexor reported $200,000 in current assets and $240,000 in accounts payable. The other accounts were the same as the prior year. What was Lexor Corp.'s debt to equity ratio for 20X2 (rounded to the nearest hundredth)?
Box 1: Select the best answer
0.52