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Jiminy's Cricket Farm issued a bond with 20 years to maturity and a semiannual coupon rate of 8 percent 3 years ago. The bond currently

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Jiminy's Cricket Farm issued a bond with 20 years to maturity and a semiannual coupon rate of 8 percent 3 years ago. The bond currently sells for 96 percent of its face value. The company's tax rate is 35 percent. 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 10 years left to maturity; the book value of this issue is $40 million, and the bonds sell for 52 percent of par. What is the company's total book value of debt? (Enter your answer in dollars, not millions of dollars, e.g. 1,234,567.) Total book value $ 80000000 What is the company's total market value of debt? (Enter your answer in dollars, not millions of dollars, e.g. 1,234,567.) Total market value $ 59200000 What is your best estimate of the aftertax cost of debt? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Cost of debt 9.8117| X %

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