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Jiminys Cricket Farm issued a 30-year, 10 percent semiannual bond 4 years ago. The bond currently sells for 94 percent of its face value. The

Jiminys Cricket Farm issued a 30-year, 10 percent semiannual bond 4 years ago. The bond currently sells for 94 percent of its face value. The companys tax rate is 38 percent.

Suppose the book value of the debt issue is $50 million. In addition, the company has a second debt issue on the market, a zero coupon bond with 14 years left to maturity; the book value of this issue is $50 million, and the bonds sell for 54 percent of par.

What is the companys total book value of debt? (Enter your answer in dollars, not millions of dollars, i.e. 1,234,567.)

What is the companys total market value of debt? (Enter your answer in dollars, not millions of dollars, i.e. 1,234,567.)

What is your best estimate of the aftertax cost of debt? (Round your answer to 2 decimal places. (e.g., 32.16) Written as a percentage.

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