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$)$

The bonds have a $7\mathrm{.}3\%$ coupon rate, payable semiannually, and a par value of $$1,000.$ They mature exactly $20$ 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$.$ $$17,179,949$

b$.$ $$18,847,908$

c$.$ $$17,281,243$

d$.$ $$18,016,303$

e$.$ $$17,227,094$