The financial statements show the following information. Total assets is $20 billion, including 3 billion in cash. The balance sheet shows $8 billion in common equity, $6 billion in long-term debt, and $1 billion in notes payable. EBITDA is at $1.2 billion. The current stock price of is $18 per share and there are 500,000,000 total shares outstanding. Assume there is no difference between the market value and the book value of debts.

a. Calculate the firm's market-to-book ratio (M/B).

b. Calculate the firm's enterprise value to EBITDA ratio (EV/EBITDA).