At December 31, 2021. Newman Engineering's liabilities include the following: Return 1. $11 million of 5% bonds were issued for $11 million on May 31, 1999. The bonds mature on May 31, 2029, but bondholders have the option of calling (demanding payment on the bonds on May 31, 2022. However, the option to call is not expected to be exercised, given prevailing market conditions. 2. $15 million of 4% notes are due on May 31, 2022. A debt covenant requires Newman to maintain current assets at least equal to 176% of its current liabilities. On December 31, 2021. Newman is in violation of this covenant Newman obtained a waiver from National City Bank until June 2022. having convinced the bank that the company's normal 2 to ratio of current assets to current abilities will be reestablished during the first half of 2022 3.58 million of 7% bonds were issued for 58 million on August 1, 1989 The bonds mature on July 31 2022 Sufficient cash is expected to be available to retire the bonds at maturity Required: Classify the above mentioned debts as current liabilities or noncurrent abilities. Also, provide corresponding value for the same (Enter your answers in millions le 10,000,000 should be entered os 10).) Dett Answer is complete but not entirely correct. Classification Milions Currently 11 000 000 Answer is complete but not entirely correct. Debt Classification Million(s) 1 Current liability 11 000 000 2. Current liability Current liability X 3 15.000.000 $ 8.000.000 3