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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

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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 9.85%, so the bonds now sell below par. What is the current market value of the firm's debt? Hint: Calculate the price of the bonds, and multiply by number of bonds (book value /1,000 ) to calculate market value. Your answer should be between 17,746,000 and 20,054,000, with no special characters. A 20-year, $1,000 par value bond has a 7% annual payment coupon. The bond currently sells for $780. If the yield to maturity remains at the current rate, what will the price be 10 years from now? Your answer should be between 770.15 and 1,026,90, rounded to 2 decimal places, with no special characters

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