Kidder Corporation's balance sheet shows an historical book value for long-term debt (bonds, at par) of $23, 500,000. The bonds have an 6.4% coupon rate, payable semiannually, and a par value of $1,000. They mature exactly 10 years from today. The yield to maturity is 9.25%, so the bonds now sell below par.

What is the current market value of the firm's debt? Your answer should be between 17, 746,000 and 20, 054,000, with no special characters.