Question
The current stock price for a company is $47 per share, and there are 4 million shares outstanding. This firm also has 50,000 bonds outstanding,
The current stock price for a company is $47 per share, and there are 4 million shares outstanding. This firm also has 50,000 bonds outstanding, which pay interest semiannually. If these bonds have a coupon interest rate of 6%, 11 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). Selected Answer: Incorrect [None Given] Correct Answer: Correct 235,679,752 2,000 please explain step by step how the answer is 235,679,752
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