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Problem 9-16Market Value Capital StructureSuppose the Schoof Company has this book value balancesheet:Current assets$30,000,000Current liabilities$10,000,000Fixed assets50,000,000Long-term debt30,000,000 Common stock (1 million shares)1,000,000Retained earnings39,000,000Total assets$80,000,000Total claims$80,000,000The current liabilities consist entirely of notes payable tobanks, and the interest rate on this debt is 8%, the same as therate on new bank loans. These bank loans are not used for seasonalfinancing but instead are part of the company's permanent capitalstructure. The long-term debt consists of 30,000 bonds, each with apar value of $1,000, an annual coupon interest rate of 7%, and a20-year maturity. The going rate of interest on new long-term debt,rd, is 11%, and this is the present yield to maturity onthe bonds. The common stock sells at a price of $52 per share.Calculate the firm's market value capital structure. Roundyour answers to two decimal places.Short-term debt$ %Long-term debt$ %Common equity$ %Total capital$ %