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Jiminy's Cricket Farm issued a 20-year, 6 percent semiannual bond 4 years ago. The bond currently sells for 91 percent of its face value. The

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Jiminy's Cricket Farm issued a 20-year, 6 percent semiannual bond 4 years ago. The bond currently sells for 91 percent of its face value. The book value of the debt issue is $40 million. In addition, the company has a second debt issue on the market, a zero coupon bond with 11 years left to maturity: the book value of this issue is $40 million and the bonds sell for 59 percent of par. The company's tax rate is 23 percent. a. What is the company's total book value of debt? Note: Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, e.g., 1,234,567. b. What is the company's total market value of debt? Note: Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, e.g., 1,234,567. c. What is your best estimate of the aftertax cost of debt? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16

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