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Market value of the ordinary shares

I need to know how to calculate the market value in order to calculate the WACC.

PROBLEM
8% bonds that mature in 20 years $8000000
Ordinary shares $5000000
6% preference shares $ 2000000

The market value of bonds is currently $8440000
Shares currently quoted as $0.60

I believe the market value of bonds is the stated $8440000, but how do I work out the market value of the ordinary shares?

Solution Preview

Market Value of ordinary shares= Number of ordinary shares * Market value per share
5000000*.6= ...

Solution Summary

This provides the steps to calculate the market value of the ordinary shares

$2.19