You are the manager and sole equity owner of a highly leveraged company. All the debt will mature in one year from today. The face value of the total debt is X = $100 million. If at the maturity time the company value is greater than the face value of the debt, you will pay off the debt. If the company value is less than the face value of the debt, you will declare bankruptcy, and the debt holders will own the company.

The (risk-free) interest rate is 5.1293% per annum. Suppose C = $40 million is todays value of a one-year call option on the company value with strike price X = 100 million. Suppose P = $20 million is todays value of a one-year put option on the company value with the same strike price. Figure out todays equity value (E) and debt value (D).