The financial statements of Burnaby Mountain Trading Company are shown below.

Income Statement 2024 Sales $ 7,000,000 Cost of Goods Sold 5,000,000 Gross Profit $ 2,000,000 Selling and Administrative Expenses 1,700,000 EBIT $ 300,000 Interest Expense 50,000 Income before Tax $ 250,000 Taxes 100,000 Net Income $ 150,000 Burnaby Mountain Trading Company Comparative Balance Sheets 2024 2023 Cash $ 90,000 $ 80,000 Accounts Receivable 810,000 800,000 Inventory 800,000 720,000 Total Current Assets $ 1,700,000 $ 1,600,000 Fixed Assets 2,600,000 2,400,000 Total Assets $ 4,300,000 $ 4,000,000 Accounts Payable $ 500,000 $ 400,000 Bank Loans 100,000 100,000 Total Current Liabilities $ 600,000 $ 500,000 Long-term Bonds 400,000 300,000 Total Liabilities $ 1,000,000 $ 800,000 Common Stock (200,000 shares) 500,000 500,000 Retained Earnings 2,800,000 2,700,000 Total Equity $ 3,300,000 $ 3,200,000 Total Liabilities and Equity $ 4,300,000 $ 4,000,000 Note: The common shares are trading in the stock market for $27 each.

Refer to the financial statements of Burnaby Mountain Trading Company. The firm's leverage ratio for 2024 is __________blank.