The correct answer is B because the book value of a company's equity is calculated as the difference between its total assets and total liabilities. This reflects the accounting value of equity as per the balance sheet.

• Option A is incorrect as it describes the intrinsic value, not the book value. Intrinsic value is based on the present value of expected future cash flows.
• Option C is incorrect because it refers to the market value of equity (market capitalization), which is determined by the current share price and the number of outstanding shares.