In 2020, Caterpillar Incorporated had about 540 million shares outstanding. Their book value was $28.4 per share, and the market price was $144.70 per share. The company’s balance sheet shows that the company had $27.15 billion of long-term debt, which was currently selling near par value. What was Caterpillar’s book debt-to-value ratio? What was its market debt-to-value ratio? Which measure should you use to calculate the company’s cost of capital?