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In 2 0 2 0 , Caterpillar Incorporated had about 5 4 0 million shares outstanding. Their book value was $ 3 8 . 4

In 2020, Caterpillar Incorporated had about 540 million shares outstanding. Their book value was $38.4 per share, and the market price was $114.70 per share. The companys balance sheet shows that the company had $28.65 billion of long-term debt, which was currently selling near par value.
What was Caterpillars book debt-to-value ratio?
Note: Do not round intermediate calculations. Enter your answer as a decimal rounded to 2 decimal places.
What was its market debt-to-value ratio?
Note: Do not round intermediate calculations. Enter your answer as a decimal rounded to 2 decimal places.
Which measure should you use to calculate the companys cost of capital?

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