Suppose the Schoof Company has this book value balance sheet: The notes payable are to banks, and the interest rate on t

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Suppose the Schoof Company has this book
value balance sheet:
The notes payable are to banks, and the interest rate on this
debt is 10%, the same as the rate on new bank loans. These bank
loans are not used for seasonal financing but instead are part of
the company's permanent capital structure. The long-term debt
consists of 30,000 bonds, each with a par value of $1,000, an
annual coupon interest rate of 8%, and a 20-year maturity. The
going rate of interest on new long-term debt, rd, is
11%, and this is the present yield to maturity on the bonds. The
common stock sells at a price of $56 per share. Calculate the
firm's market value capital structure. Do not
round intermediate calculations. Round the monetary values to the
nearest dollar and percentage values to two decimal places.
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