Problem 11-16 Market Value Capital Structure Suppose the Schoof Company has this book value balance sheet: Current assets $10,000,000 10,000,000 20,000,000 $30,000,000 Current liabilities Notes payable Long-term debt Fixed assets 50,000,000 Common stock 1,000,000 39,000,000 $80,000,000 (1 million shares) Retained earnings Total assets $80,000,000 Total claims The current liabilities consist entirely of notes payable to banks, and the interest rate on this debt is 10%, the same as the rate on new bank loans. These bank loans are not used for seasonal financing but instead are part of the company's permanent capital structure. The long-term debt consists of 30,000 bonds, each with a par value of $1,000, an annual coupon interest rate of 7%, and a 20-year maturity. The going rate of interest on new long-term debt, rd, is 11%, and this is the present yield to maturity on the bonds. The common stock sells at a price of $60 per share. Calculate the firm's market value capital structure. Round your answers to two decimal places. Short-term debt Long-term debt Common equity Total capital