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Kidder corporations balance sheet shoes an historic book value for long term debt of 23,500,000. The bonds have a 6.4% coupon rate, payable semiannually, and
Kidder corporations balance sheet shoes an historic book value for long term debt of 23,500,000. The bonds have a 6.4% coupon rate, payable semiannually, and a par value of $1000. They mature exactly 10 years from today. The yield to maturity is 9.70% so the bond now sell below par, what is the current market value of the firms debt?
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