To precisely evaluate the capital structure of a firm, it is necessary to transform its statement of financial position figures from their book values into their market values. "ABC Corporation's statement of financi position as of today is as follows: Preferred stock (5100, 9%, Cumulative) $3,000,000 . Common stock ($10 par) 12,000,000 Retained earnings 6,000,000 Bonds Payable (at par) $10,000,000 The bonds have a par value of $1,000 and a stated rate of 4% that is payable every 6 months. They mature exactly 10 years from today. Based on the above-given information answer the following questions 1. What is the number of outstanding bonds? 12583333 x 2. if the market rate is 12%. What is the TOTAL current market value of the firm's bonds? x