A bond was issued 3 years ago at a coupon rate of 6%. Since then, interest rates have declined to 4%. The bond matures 20 years from today. Compute the current market value of this bond.
Debt Management Ratios Tierre's Ts, Inc. reported a debt to equity ratio of 3.5 times at the end of 2008. If the firm's total assets at year-end were $15.5 million, how much of their assets are financed with equity?