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:

The bonds have a $7\mathrm{.}5\%$ coupon rate, payable semiannually, and a par value of $$1,000.$ They mature exactly $15$ years from today. The yield to maturity is $11\%,$

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$.$ $$18,979,640$

b$.$ $$17,430,639$

c$.$ $$18,227,430$

d$.$ $$17,585,510$

e$.$ $$17,522,997$