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The following information pertains to the capital structure of a firm:,,Debt: Fifteen hundred bonds with face values of $1000 and a 10-year term were issued three years ago with a coupon rate of 10%. Today the bonds are selling to yield 8%.,,Preferred Stock: Ten thousand shares of preferred stock are outstanding with a $9 annual dividend and a $100 face value. Today the shares are selling to yield a 10% return. ,,Common equity: 150 thousand shares of common stock are outstanding at a current market price of $30 per share. ,,Develop the firm’s market value based on capital structure.

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