In order to accurately assess the capital structure of a firm, it is necessary to convert its balance sheet figures from historical book values to market values. KJM Corporation's balance sheet $($book values$)$ as of today is as follows:Long$-$term debt $($bonds$,$ at par$)$Preferred stockCommon stock $($$$10$ par$)$Retained earningsTotal debt and equity$$23,500,0001,000,00011,000,0003,000,000$$$38,500\mathrm{.}000$The bonds have a $6\mathrm{.}5\%$ coupon rate, payable semiannually, and a par value of $$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? Do not round your intermediate calculations. a$.$ $$18,850,817$b$.$ $$19,384,676.$ $$18,374,916$d$.$ $$18,157,812$e$.$ $$18,446,094$