Here is a simplified balance sheet for Epicure Pizza (figures in $ millions):

Assets		Liabilities and Shareholders' Equity
Current assets	$ 120	Current liabilities	$ 160
Fixed assets	118	Long term debt	28
		Equity	50
Total	$ 238	Total	$ 238

Note: There are 10 million shares outstanding.

Epicure shares are currently priced at $8 each.

What value should be used for debt when calculating the firm's WACC?

Note: Enter your answer in millions.

Since Epicure issued its debt, interest rates have fallen substantially. Do you need to revise your measure of the debt ratio upward or downward?