A company has in issue some 9 per cent debentures, which are redeemable at par in three
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A company has in issue some 9 per cent debentures, which are redeemable at par in three years’ time. Investors now require a yield of 10 per cent. What will be the current ex-interest market value of £100-worth of debentures? What would be the current ex-interest market value if the issue had been of irredeemable bonds?
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Related Book For 
Corporate Finance Principles And Practice
ISBN: 9780273706441
4th Edition
Authors: Denzil Watson, Anthony Head
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