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ABC Ltd. is financed with both long-term debt and common shares. The debt supports 44% of the firm's assets and common shares support the remainder.

ABC Ltd. is financed with both long-term debt and common shares. The debt supports 44% of the firm's assets and common shares support the remainder. The market value of the common shares is $49 million. What is the market value of the firm's debt?

a. $ 38.50 million

b. $ 47.09 million

c. $ 32.80 million

d. $ 43.83 million

e. $ 28.53 million

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