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Consider the following company, $54 million 15% 17% semi-annually 15 Book Value of Debt YTM Coupon Coupon Payments Years Corporate Tax Rate # of Preferred

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Consider the following company, $54 million 15% 17% semi-annually 15 Book Value of Debt YTM Coupon Coupon Payments Years Corporate Tax Rate # of Preferred Shares Price of Preferred Share Dividend per Preferred Shares # of Common Shares Price of Common Share B of Common Stock Risk-Free Rate Market Return 23% 2 million $30 $ 1.13 9.5 million $17 10.8 4% 11% What is the market value of the debt? Enter your answer in terms of millions and rounded to 2 DECIMAL PLACES. Enter your response below. Number million Click "Verify" to proceed to the next part of the

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