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CMS Corporation's balance sheet as of today is as follows: Long-term debt (bonds, at par) Preferred stock Common stock ($10 par) Retained earnings Total debt
CMS Corporation's balance sheet as of today is as follows: Long-term debt (bonds, at par) Preferred stock Common stock ($10 par) Retained earnings Total debt and equity 0000 a $6,387,753 b. $6,389,310 C. $6,390,088 d. $6,386,975 e. $6,388,532 $10,000,000 2,000,000 10,000,000 The bonds have a 5.7% coupon rate, payable semiannually, and a par value of $1,000. They mature exactly 10 years from today. The yield to maturity is 12%, so the bonds now sell below par. What is the current market value of the firm's debt? Select the correct answer. 0 Icon Key 4,000,000 $26,000,000 W
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