Problem $13-15$ Capital Structure $($LO$3)$

In $2018,$ Caterpillar Inc. had about $657$ million shares outstanding. Their book value was $$320$ per share, and the market price was $$159\mathrm{.}30$ per share. The company's balance sheet shows that the company had $$15\mathrm{.}80$ billion of long$-$term debt, which was currently selling near par value,

a$.$ What was Caterpillar's book debt$-$to$-$value ratio? $($Do not round intermediate calculations. Enter your answer as a decimal rounded to $2$ decimal places.$)$

b$.$ What was its market debt$-$to$-$value ratio? $($Do not round intermediate calculations. Enter your answer as a decimal rounded to $2$ decimal places.$)$

c$.$ Which measure should you use to calculate the company's cost of capital?

$\backslash$table$[[,],[$a$.,$Book debt$-$to$-$value ratio,$],[$b$.,$Markeet debt$-$to$-$value ratio,$],[$c$.,$Measure,Book value$]]$