Here is a simplified balance sheet for Locust Farming:

Locust Farming
Balance Sheet
($ in millions)
Current assets	$	42,530		Current liabilities	$	29,749
Long-term assets		46,844		Long-term debt		27,758
				Other liabilities		14,329
				Equity		17,538
Total	$	89,374		Total	$	89,374

Locust has 663 million shares outstanding with a market price of $89 a share.

a. Calculate the companys market value added. (Enter your answers in millions.)

b. Calculate the market-to-book ratio. (Round your answer to 2 decimal places.)

c. How much value has the company created for its shareholders as a percent of the investment of the equity holders?