A $6\%$ coupon rate, payable semiannually, and a par of $$1,000.$ Bonds $($long term debt$)$ mature $10$ years from today. The yield to maturity is $11\%,$ so the bonds now sell $$$$1000,$ the par value. Calculate the current market value of the firm's debt. $($Hint Use the price of the bond $*23500$ to get the market value of the firm's long term debt. Bond price can be obtained using the PV function in Excel.$)$

$$16,634,273$

$$15,320,338$

$$17,310,634$

$$16,479,150$