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The current stock price for a company is $48 per share, and there are 3 million shares outstanding. This firm also has 260,000 bonds outstanding,
The current stock price for a company is $48 per share, and there are 3 million shares outstanding. This firm also has 260,000 bonds outstanding, which pay interest semiannually. If these bonds have a coupon interest rate of 6%, 13 years to maturity, a face value of $1,000, and a current price of 1,005.91, 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 405,536,600 please explain step by step how the answer is 405,536,600
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