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In 2020, Caterpillar Incorporated had about 540 million shares outstanding. Their book value was $40.4 per share, and the market price was $108.70 per share. The company’s balance sheet shows that the company had $28.95 billion of long-term debt, which was currently selling near par value.
What was Caterpillar’s book debt-to-value ratio?

Note: Do not round intermediate calculations. Enter your answer as a decimal rounded to 2 decimal places.

What was its market debt-to-value ratio?

Note: Do not round intermediate calculations. Enter your answer as a decimal rounded to 2 decimal places.

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