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In 2018, Caterpillar Inc. had about 594 million shares outstanding. Their book value was $34.0 per share, and the market price was $154.30 per share.

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In 2018, Caterpillar Inc. had about 594 million shares outstanding. Their book value was $34.0 per share, and the market price was $154.30 per share. The company's balance sheet shows that the company had $25.80 billion of long-term debt, which was currently selling near par value. a. What was Caterpillar's book debt-to-value ratio? (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? (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? Book debt-to-value ratio Markeet debt-to-value ratio Measure

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