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38. The current stock price for a company is $41 per share, and there are 5...

38.

The current stock price for a company is $41 per share, and there are 5 million shares outstanding. This firm also has 50,000 bonds outstanding, which pay interest semiannually. If these bonds have a coupon interest rate of 8%, 19 years to maturity, a face value of $1,000, and a current price of 976.95, what is the percent market value of equity for this firm? (Answer to the nearest hundredth of a percent, but do not use a percent sign).

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