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points for fast correct answer 5 pts U Question 17...

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5 pts U Question 17 Kidder Corporation's balance sheet shows an historical book value for long-term debt (bonds, at par) of $23.500,000. The bonds have an 6,4% coupon rate,payable semiannually, and a par value of $1,000. They mature exactly 10 years from today. The yield to maturity is 9.75% so the bonds now sell below par. What is the current market value of the firm's debt? Hint: Calculate the price of the bonds, and multiply by number of bonds (book value/1.000) to calculate market value. Your answer should be between 17,746,000 and 20,054,000, with no special characters

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