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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 64% coupon

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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 64% coupon rate, payable semiannually, and a par value of $1,000. They mature exactly 10 years from today. The yield to maturity is 9.90%, so the bonds now sell below par. What is te 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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