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Marshalls Corporation has a $30,000 pure discount bond that comes due in one year. The risk-free rate of return is 3 percent. The firm's assets

Marshalls Corporation has a $30,000 pure discount bond that comes due in one year. The risk-free rate of return is 3 percent. The firm's assets are expected to be worth either $24,000 or $40,000 in one year. Currently, these assets are worth $32,000. What is the current value of the firm's debt?

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