Bond price: The International Publishing Group is raising $10 million by issuing 15-year bonds with a coupon
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Bond price: The International Publishing Group is raising
$10 million by issuing 15-year bonds with a coupon rate of 8.5 percent.
Coupon payments will be made annually. Investors buying the bonds today will earn a yield to maturity of 8.5 percent. At what price will the bonds sell in the marketplace? Explain.
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Related Book For 
Fundamentals Of Corporate Finance
ISBN: 9781119795438
5th Edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
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