Book value of merrimac interest- bearing debt, Accounting Basics

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Book value of merrimac interest- bearing debt

Problem:

Merrimac Brewing company's total assets equal $18 million. The book value of Merrimac's equity is $6 million. The market value of Merrimac's equity is $10 million. It's Debt to Value ratio is .5.

Required:

Question: What is the book value of Merrimac's interest- bearing debt?

A) $5 million

B) $10 million

C) $15 million

D) $20 million

Note: Please show guided help with steps and answer.

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Accounting Basics: Book value of merrimac interest- bearing debt

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Accounting Basics: Book value of merrimac interest- bearing debt

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