Please explain how to get the estimated value of debt for the above question.

Question Help Click on the Icon located on the top-right corner of the data table below in order to Use the option data from July 23, 2009 in the table, EB. to determine the rate Google would have paid if it had issued $115.42 billion inCOpy zero-coupon debt due in January 2011. Suppose Google currently had 303.73 million shares outstanding, implying a market value of $126.40 billion. Risk-free rate is 1.2%. (Assume perfect capital markets.) its contents into a sproadshoot.) GOOG Jul 13 200913:10 EST 416.16 +7.87 Vol 2177516 To determine what issuing the debt is equivalent in terms of the call option. Calculate the percentage of market value using the following Bid Int 273.60 276.90 264.50267.520 231.20 88.80 162.80165.00 150.10 135.90 120.50 122.60 116.10 110.00 98.00 Debt Market Value 11 Jan 150.0 (OZF AJ) 11 Jan 160.0 (OZF AL) 11 Jan 200.0 (OZF AA) 11 Jan 250.00 (OZF AU) 11 Jan 280.0 (OZF AX) 11 Jan 300.0 (OZF AT) 11 Jan 320.0 (OZF AD) 11 Jan 340.0 (OZF Al) 11 Jan 350.0 (OZF AK) 11 Jan 360.0 (OZF AM) 11 Jan 380.0 (OZF AZ) 11 Jan 400.0 (OZF AU) 11 Jan 420.0 (OZF AG) 11 Jan 450.0 (OZF AV) 100 82 172 103 98 408 63 Percentage of market value- 228.90 186.50 Then to find the strike price, use the following formula: Strike price = Price Percentage of market value The strike price of the call that corresponds to the call that debt holders have effectively "shorted" is $ 380. (Round to the nearest dollar.) Calculate the average of the bid-ask spread for the strike price, then multiply by the number of outstanding shares. This will be the market value of the remaining equity. To calculate the estimated value of the debt, use the following formula 148.20 133.90 269 114.10 107.90 95.80 85.10 74.60 61.80 Debt Total MV - MV of remaining equity 87.00 2577 76.90 63.30 The estimated value of debt is S 96.97 billion. Round to two decimal places.) 379