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Suppose the Schoof Company has this book value balance sheet: Current assets$30,000,000Current liabilities$20,000,000Notes payable10,000,000Fixed assets70,000,000Long-term debt30,000,000Common stock (1 million shares)1,000,000Retained earnings39,000,000Total assets$100,000,000Total liabilities and equity$100,000,000The

Suppose the Schoof Company has thisbook valuebalance sheet:

Current assets$30,000,000Current liabilities$20,000,000Notes payable10,000,000Fixed assets70,000,000Long-term debt30,000,000Common stock (1 million shares)1,000,000Retained earnings39,000,000Total assets$100,000,000Total liabilities and equity$100,000,000The notes payable are 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 9%, and a 20-year maturity. The going rate of interest on new long-term debt, rd, is 12%, and this is the present yield to maturity on the bonds. The common stock sells at a price of $64 per share. Calculate the firm'smarket valuecapital structure. Do not round intermediate calculations. Round the monetary values to the nearest dollar and percentage values to two decimal places.

Short-term debt$

%Long-term debt

Common equity

Total capital$

%

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