13. Company X has 2 million shares of common stock outstanding with a book value of $2 per share. The stock trades for $3 per share. It also has $2 million in face value of debt that trades at face value. What is the debt ratio in the firm's capital structure that should be used to calculate WACC? a. 50% b. 33% c. 25% d. It depends on the company's tax rate