Company A's balance sheet as of today is as follows: Long-term debt (bonds, at par) $14,000,000 Preferred stock 3,000,000 Common stock ($10 par) 9,000,000 Retained earnings 3,000,000 Total debt and equity $29,000,000 The bonds have a 7.8% coupon rate, payable semiannually, and a par value of $1,000. They mature exactly 10 years from today. The yield to maturity is 10%, so the bonds now sell below par. What is the current market value of the firm's debt? Oa. $12,421,038 O b. $12,080,820 O c. $12,778,460 Od. $11,999,521 Oe. $12,107,473