Owners of long-term debt instruments such as bonds would prefer which of the following scenarios? a. A debt ratio of 20% to a debt ratio of 40% and a times interest earned of 4.0 b. A debt ratio of 40% to a debt ratio of 20% and a times interest earned of 2.0 c. A debt ratio of 40% to a debt ratio of 20% and a times interest earned of 4.0 d. A debt ratio of 20% to a debt ratio of 40% and a times interest earned of 2.0