Company X Has 2 Million Shares of Common Stock Outstanding

Company X has 2 million shares of common stock outstanding at a book value of $2 per share.The stock trades for $3.00 per share.It also has $2 million in face value of debt that trades at 90% of par.What is its ratio of debt to value for WACC purposes?

A) 15.38%
B) 28.6%
C) 31.0%
D) 33.3% 2 million shares x $3.00 = $6,000,000
$2 million debt x 90% = $1,800,000
Total value = $7,800,000