TABLE 2.2 Interest rates on long-term corporate bonds, March 2016. The interest rate is lowest for top-quality (AAA) issuers. The rate rises as credit quality declines. Credit Rating AAA AA Interest Rate 2.59% 2.62 3.03 4.32 5.62 8.32 BBB BB Source: Thomson Reuters. Consider the table given below to answer the first question (shares and market values in millions). Callaway Golf (ELY) Alaska Air Group (ALK) Entergy (ETR) Yumt Brands YUN) General Electric (GE) Number of Shares 93. 124.7 367.5 408.7 9.31.0 Stock Price $ 3.76 - $80.77 - $75.92 - $ 77.77 - 30.34 - Market Capitalization 821 $ 10,074 $ 27.899 $31,875 $283,091 a. The price of Entergy stock has risen to $75. What is the market value of the firm's equity if the number of outstanding shares does not change? (Enter your answer in billions rounded to 3 decimal places.) Market value b. The rating agency has revised Catalytic Concept's bond rating to AA (use Table 2.2). What interest rate, approximately, would the company now need to pay on its bonds? (Enter your answer as a percent rounded to 2 decimal places.) Interest rate