老师，公司value是90，资不抵债，意思是总资产缩水到90？

问题如下：

Suppose a shareholder invests in a company with an initial investment amount of $100 million. The company issues a zero-coupon bond with a principal amount of $100 million due in one year. Assume the company has no dividend during the period. After 1 years, the company value is $90 million. What are the values of debt and equity？

选项：

A.

$100 million in debt and $100 million in equity.

B.

$90 million in debt and $100 million in equity.

C.

$100 million in debt and $0 million in equity.

D.

$90 million in debt and $0 in equity.

解释：

D is correct.

考点：Merton Model-Calculation

解析：企业的价值小于债券的价值，所以，债券的价值=90million，权益=企业价值-债券=0million。