- PROBLEM #3 (20 points): W.B.Jones Heating & Air has an equity value of $4 billion and a total asset value of $5 billion. They are currently examining the risk and return characteristics of two potential mutually exclusive expansion projects and want to know if either is financially viable for the company. Project A is anticipated to produce a 7.65% return while project B is expected to produce a 8.44% return. B. (10 points) Given the firm's equity value and their value of total assets, what is the total value of debt on the company's balance sheet? Remember the accounting balance sheet formula from Chapter 2