Problem 9-16 Market Value Capital Structure Suppose the Schoof Company has this book value balance sheet: Current assets $30,000,000 50,000,000 Current liabilities Long-term debt 1 Common stock $10,000,000 30,000,000 Fixed assets (1 million shares) Retained earnings I 1,000,000 39,000,000 $80,000,000 Total assets 1 $80,000,000 Total claims the current liabilities consist entirely of notes payable to banks, and the interest rate on this debt is 8%, 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 6%, and a 25-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 $58 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