Here are simplified financial statements of Phone Corporation from a recent year:

INCOME STATEMENT (Figures in millions of dollars)
Net sales	13,193
Cost of goods sold	4,060
Other expenses	4,049
Depreciation	2,518
Earnings before interest and taxes (EBIT)	2,566
Interest expense	685
Income before tax	1,881
Taxes (at 35%)	658
Net income	1,223
Dividends	856

BALANCE SHEET (Figures in millions of dollars)
	End of Year	Start of Year
Assets
Cash and marketable securities	89	158
Receivables	2,382	2,490
Inventories	187	238
Other current assets	867	932
Total current assets	3,525	3,818
Net property, plant, and equipment	19,973	19,915
Other long-term assets	4,216	3,770
Total assets	27,714	27,503
Liabilities and shareholders%u2019 equity
Payables	2,564	3,040
Short-term debt	1,419	1,573
Other current liabilities	811	787
Total current liabilities	4,794	5,400
Long-term debt and leases	7,018	6,833
Other long-term liabilities	6,178	6,149
Shareholders%u2019 equity	9,724	9,121
Total liabilities and shareholders%u2019 equity	27,714	27,503

Phone Corp.%u2019s stock price was $84 at the end of the year. There were 205 million shares outstanding.

a.	What was the company%u2019s market capitalization and market value added? (Enter your answers in billions rounded to 2 decimal places.)

Market capitalization	$ billion
Market value added	$ billion

b.	What was its market-to-book ratio? (Round your answer to 2 decimal places.)

Market-to-book ratio