1. Use Excel to calculate the market value capital structure by calculating the present values of each component, given these assumptions:
   • Debt: 130, 10-year, $1,000 face value, 6% coupon bonds issued 1 year ago, now selling at a price to yield 8%.
   • Preferred: 1,500 shares of preferred are outstanding, each share pays an annual dividend of $5.00. Originally sold to yield 10% of $50 face value. Now yielding 12%.
   • Equity: 2,500 shares of common stock are selling at $45 per share.
2. Upload your spreadsheet and observations here.