Backcountry Adventures is a Colorado-based outdoor travel agent that operates a series of backcountry huts. Currently, the value of the firm is 3.7$ million. But profits will depend on the amount of snowfall: If it is a good year, the firm will be worth 5.1$ million, and if it is a bad year it will be worth 2.4$ million. Suppose managers always keep the debt to equity ratio of the firm at 20% and the debt is riskless.

Calculate the initial amount of debt and equity. (PLEASE PROVIDE A CALCULATION WITH FORMULA)