The only part that needs to be solved is part b. Thank you!

Consider the table shown below to answer the question posed in part a. Parts b and c are independent of the given table. = X = Number of Share (millions) 94.6 123.4 332.5 147.4 7,705.0 Callaway Golf (ELY) Alaska Air Group (ALK) Yum! Brands (YUM) Caterpillar Tractor (CAT) Microsoft (MSFT) Market Capitalization ($ millions) $ 1547.66 $ 7645.86 $ 28, 305.73 $ 88,090.66 $703,235.35 = Stock Price $ 16.36 $ 61.96 $ 85.13 $597.63 $ 91.27 X = X = X a. The price of Yum! Brands stock has risen to $165. 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 $ 54.863 b. The rating agency has revised Catalytic Concepts' bond rating to BBB (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 1 decimal place.) Interest rate % TABLE 2.2 Interest rates on long-term corporate bonds, May 2018. The interest rate is lowest for top-quality (AAA and AA) issuers. The rate rises as credit quality declines. Credit Rating Interest Rate AAA 3.5% AA 3.5 3.8 BBB 4.3 BB 5.1 B 6.5 Source: ICE Bank of America Merrill Lynch Indices