Presented here are summarized data from the balance sheets and income statements of Wiper, Inc.:

WIPER, INC.
Condensed Balance Sheets
December 31, 2017, 2016, 2015
(in millions)
	2017			2016			2015
Current assets	$	793		$	1,021		$	883
Other assets		2,428			1,935			1,734
Total assets	$	3,221		$	2,956		$	2,617
Current liabilities	$	592		$	845		$	742
Long-term liabilities		1,607			1,070			942
Stockholders equity		1,022			1,041			933
Total liabilities and stockholders' equity	$	3,221		$	2,956		$	2,617

WIPER, INC
Selected Income Statement and Other Data
For the year Ended December 31, 2017 and 2016
(in millions)
	2017			2016
Income statement data:
Sales	$	3,065		$	2,928
Operating income		311			325
Interest expense		99			80
Net income		236			231
Other data:
Average number of common shares outstanding		42.8			48.2
Total dividends paid	$	65.0		$	53.8

a. If Wiper's stock had a price/earnings ratio of 12 at the end of 2017, what was the market price of the stock? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

b. Calculate Wiper's debt ratio and debt/equity ratio at December 31, 2017 and 2016. (Round "Debt ratio" to 1 decimal place and "Debt/equity ratio" to the nearest whole percent.)