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CMS Corporation's balance sheet as of today is as follows: The bonds have a 5.9% coupon rate, payable semiannually, and a par value of $1,000.

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CMS Corporation's balance sheet as of today is as follows: The bonds have a 5.9% 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. a. $6,502,205 b. $6,500,611 c. $6,500,080 d. $6,501,674 e. $6,501,143

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