Jiminy's Cricket Farm issued a 30-year, 8 percent semi-annual bond 5 years ago. The bond currently sells for 84 percent of its face value. The book value of the debt issue is $17 million. The company's tax rate is 32 percent.

In addition, the company has a second debt issue on the market, a zero coupon bond with 5 years left to maturity; the book value of this issue is $78 million and the bonds sell for 78 percent of par.

What is the company's total market value of debt?

What is your best estimate of the aftertax cost of debt?