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10. In order to accurately assess the capital structure of a firm, it is necessary to convert its balance sheet figures from historical book values

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10. In order to accurately assess the capital structure of a firm, it is necessary to convert its balance sheet figures from historical book values to market values. KJM Corporation's balance sheet (book values) as of today is as follows The bonds have a 7.0% coupon rate, payable semiannually, and a par value of $1,000. They mature exactly 10 years from today. The yield to maturity is 10%, so the bonds now sell below par. What is the current market value of the firm's debt

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