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kidder corporation balance sheet shows an historical book value for long-term debt (bonds at par)...

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Finance

kidder corporation balance sheet shows an historical book value for long-term debt (bonds at par) of $23,5000,000. the bond have an 6.4% coupon rate, payable semiannually, and a par value of $1,000. they mature exactly 10 years from today. the yield to maturity is 9.35% so the bonds now sell below par. what is the current market value of the firm debt?

hint: caculate the price of the bond, and multiply by number of bonds (book value/ 1,000) to calculate market value

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