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The current stock price for a company is $42 per share, and there are 4 million shares outstanding. This firm also has 60,000 bonds outstanding,
The current stock price for a company is $42 per share, and there are 4 million shares outstanding. This firm also has 60,000 bonds outstanding, which pay interest semiannually. If these bonds have a coupon interest rate of 8%, 23 years to maturity, a face value of $1,000, and an annual yield to maturity of 6.6%, what is the total market value of this firm? (Answer to the nearest dollar, but do not use a dollar sign).
I know that the answer is 237,868,889 , but I don't know how to calculate that answer.
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