For a school project, you have been asked to examine the capital structure for Chocalatety Donuts Incorporated. After research, you find the following:

a.) What is the market value of the debt? (answer in terms of millions)

b.) What is the weight in debt?

\begin{tabular}{ll} Financial Information: & Value: \\ \hline Shareholder equity & $240.00 million \\ \hline \# of shares outstanding & 65.50 million \\ \hline Price per share & $18.25 \\ \hline Book value of debt & $50.00 million \\ \hline Market value of debt & 90.00% of face value \end{tabular}