In $2020,$ Caterpillar Incorporated had about $540$ million shares outstanding. Their book value was $$38\mathrm{.}4$ per share, and the market price was $$114\mathrm{.}70$ per share. The company$$s balance sheet shows that the company had $$28\mathrm{.}65$ billion of long$-$term debt, which was currently selling near par value.

What was Caterpillar$$s 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 company$$s cost of capital?In $2020,$ Caterpillar Incorporated had about $540$ million shares

outstanding. Their book value was $$38\mathrm{.}4$ per share, and the market price

was $$114\mathrm{.}70$ per share. The company's balance sheet shows that the

company had $$28\mathrm{.}65$ billion of long$-$term debt, which was currently

selling near par value.

a$.$ What was Caterpillar's book debt$-$to$-$value ratio?

Note: Do not round intermediate calculations. Enter your answer

as a decimal rounded to $2$ decimal places.

b$.$ 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.

c$.$ Which measure should you use to calculate the company's cost of

capital?

Answer is complete but not entirely correct.