I need to find the book value and the market value for a bond. I've never had to determine that when the market rate isn't given and I can't find any examples in my text... Any help would be appreciated! Here are the facts...

Face value = $75 million
Coupon = 8%
Sells at 93% of par

Does this mean that the market value is $69,750,000 (75000 bonds * 93%)?

Does this mean that the market value is $69,750,000 (75000 bonds * 93%)??

Yes. You're lucky. Most problems just say 93 and don't bother with the % sign. At least you got a hint. ;)