Can you help me solve these using excel for both problems, thank you. Problem $2$:

In order to accurately assess the capital structure of a firm, it is necessary to convert its balance sheet

figures from historical book values to market values. KJM Corporation's balance sheet $($book values$)$ as

of today is as follows:

Long$-$term debt $($bonds$,$ at par$)$ $$23,500,000$

Preferred stock $$2,000,000$

Common stock $($$$10$ par$)$ $$10,000,000$

Retained earnings $$4,000,000$

Total debt and equity $$39,500,000$

The bonds have an $8\mathrm{.}4\%$ coupon rate, payable semiannually, and a par value of $$1,000.$ They mature

exactly $10$ years from today. The yield to maturity is $11\%,$ so the bonds now sell below par. What is the

current market value of the firm's debt?

Problem $3$:

Kebt Corporation's Class Semi bonds have a $12-$year maturity and a $6\mathrm{.}00\%$ coupon paid semiannually $(3\%$

every six months$),$ and those bonds sell at their $$1,000$ par value. The firm's Class Ann bonds have the

same risk, maturity, nominal interest rate, and par value, but these bonds pay interest annually. Neither

bond is callable. At what price should the annual payment bond sell?