Question: A 6 % coupon rate, payable semiannually, and a par of $ 1 , 0 0 0 . Bonds ( long term debt ) mature

A 6% coupon rate, payable semiannually, and a par of $1,000. Bonds (long term debt) mature 10 years from today. The yield to maturity is 11%, so the bonds now sell $1000, the par value. Calculate the current market value of the firm's debt. (Hint Use the price of the bond *23500 to get the market value of the firm's long term debt. Bond price can be obtained using the PV function in Excel.)
$16,634,273
$15,320,338
$17,310,634
$16,479,150
A 6% coupon rate, payable semiannually, and a par of $1,000.

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