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Kidder corporations balance sheet shoes an historic book value for long term debt of 23,500,000. The...

Kidder corporations balance sheet shoes an historic book value for long term debt of 23,500,000. The bonds have a 6.4% coupon rate, payable semiannually, and a par value of $1000. They mature exactly 10 years from today. The yield to maturity is 9.70% so the bond now sell below par, what is the current market value of the firms debt?

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jeff jeffy answered 2 years ago
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