Book Co. has

1.6

million shares of common equity with a par (book) value of

$1.05,

retained earnings of

$28.1

million, and its shares have a market value of

$50.61

per share. It also has debt with a par value of

$21.7

million that is trading at

105%

of par.

a. What is the market value of its equity?

b. What is the market value of its debt?

c. What weights should it use in computing its WACC?

Question content area bottom

Part 1

a. What is the market value of its equity?

The market value of the equity is

$enter your response here

million. (Round to two decimal places.)