$\quad$ $\quad$ $\quad$ $\quad$ $\quad$

$\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ Windswept, Inc.
$\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ 2008 Income Statement
$\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ ($ in millions)
$\begin{array}{c}\begin{array}{lll} \text {Net sales } \\ \text { Less: Cost of goods sold } &&\\ \text { Less: Depreciation } &\\ \text {Earnings before interest and taxes } &\\ \text { Less: Interest paid } &\\ \text {Taxable Income } &\\ \text {Less: Taxes } &\\ \text { Net income } &\\\end{array}\begin{array}{r}\$ 8,450 \\7,240 \\\underline{400} \\ 810 \\\underline{ 70} \\ \$ 740 \\\underline{ 259} \\\underline{ \$ 481}\end{array}\end{array}$

-Refer to the above TableWhat is the debt-equity ratio for 2008?

A) 22.5%
B) 26.2%
C) 35.5%
D) 45.1%
E) 47.7%