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The current stock price for a company is $31 per share, and there are 6 million shares outstanding. This firm also has 230,000 bonds outstanding, which pay interest semiannually. If these bonds have a coupon interest rate of 8%, 26 years to maturity, a face value of $1,000, and an annual yield to maturity of 6.9%, what is the percent market value of debt for this firm? (Answer to the nearest hundredth of a percent, but do not use a percent sign).

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92358361

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