ChailbisCo filed with the SEC to offer $95.0 million par value of 20-year bondswith a 6.15% coupon. In the time since the memorandum was filed with the agency, interest rates have risen and the investment group underwriting the issue informs Chailbis'CFO the bonds will have to be sold at a yield to maturity of 6.45%. The amountChailbiswill raise in the sale of the bonds is closest to:

Answer rating: 100% (QA)

To determine the amount that ChailbisCo will raise in the sale of the bonds we need to calculate the ... View the full answer