structure of a firm, it is necessaryto convert its balance shet figares from historical book values to market values. KM sheet (book values) as of today is as follows: Long-term debt (bonds, at par) Preferred stock Common stock ($10 par) Retained earnings Total debt and equity 23,500,000 2,000,000 10,000,000 539.500.000 The bonds have a 8 % ou on rate payable sem annually, and a par value o Si ooo. They mature e actly oye anfrom today. They below par, What is the current market value of the firm's debt? d tomat ni s, so thebond and a. $21,679,615 b. $24,241,752 e$22,073,790