Given,,Bonds at par 23,500,000,preferred stock 2,000,000,bcommon stock 10,000,000,Retained earnings 4,000,000,,Total debt and equity 39,500,000,,Bonds have a 8.4% coupon rate payed semi-annually, par value of $1,000 and mature in 10 years. yield to maturity = 11%,,what is the value of the firms debt?,,the answer is 19,849,158 how did they get this?, ,,
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