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Avery Co. reported total assets of $550,000 and total liabilities of $250,000 on December 31, 2020. Avery's loan agreement with First Bank requires Avery to maintain a debt-to-equity ratio of no more than 0.90. What is Avery's debt-to-equity ratio at year-end and is Avery in compliance with its loan agreement?Select one:a. Avery's debt-to-equity ratio is 1.2 and Avery is not in compliance with the loan agreementb. Avery's debt-to-equity ratio is 0.83 and Avery is in compliance with the loan agreementc. Avery's debt-to-equity ratio is 1.0 and Avery is in compliance with the loan agreementd. Avery's debt-to-equity ratio is 0.45 and Avery is in compliance with the loan agreement
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