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Plant Manufacturing Ltd has asked you to calculate the debt component to help in its calculation of its weighted average cost of capital (WACC). Plant

Plant Manufacturing Ltd has asked you to calculate the debt component to help in its calculation of its weighted average cost of capital (WACC). Plant Manufacturing has corporate bonds with a coupon rate 9.1% p. a. and a total face value of $3.91 millions. The coupon is paid half yearly. The bonds mature in 6 years and currently Plant Manufacturing bonds are trading at a yield of 2.49%p.a. If a coupon payment was paid today what is the market value of Plant Manufacturings issued bonds? Provide your answer to the nearest dollar

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