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Question 17 5 pts Kidder Corporation's balance sheet shows an historical book value for long-...

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Question 17 5 pts 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 9.85%, 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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