The first step in determining FVW$$s WACC is to estimate the market value of its debt. It is generally safe to assume that the market value and book value of current debt are the same, since they should be paid off within a year. However, the market value of non$-$current debt can differ from its book value. FVW$$s non$-$current debt consists of a single privately placed bond issue with a total face total value of $$15,500,000$ that pays a semi$-$annual coupon of $4\mathrm{.}25\%$ p$.$a$.$ The bonds will mature in five years and their yield$-$to$-$maturity is $4\mathrm{.}8\%$ p$.$a$.$ with semi$-$annual compounding. Use this value to estimate the market value of the firm$$s debt.