10. Assume now that Ford's credit rating achieves the highest level possible. Consequently, Ford is not only able to benefit from lower discount rates, but also from a lower coupon rate. The coupon rate is now 50 bps. lower than before. What will be the bond's fair price, Yield To Maturity and Current Yield under these circumstances? How many bonds will Ford need to issue now to be able to raise the desired funds?

Ford Motor CO. Senior Unsecured Description US$1.5 bil 6.375% deb due 02/01/2029 US$1.5 bil 6.625% deb due 10/01/2028 US$10.05 bil revolving bank In due 04/30/2020 US$ 10.7 bil revolver bank In due 11/30/2017 US$183.125 mil 9.215% deb due 09/15/2021 US$2 bil 4.75% sr unsecd nts due 01/15/2043 US$200 mil 7.75% deb due 06/15/2043 US$250 mil 7.50% deb due 08/01/2026 US$288.402 mil 9.98% deb due 02/15/2047 US$3.34 bil revolving bank In due 04/30/2018 US$300 mil 6.625% deb due 02 / 1 5 / 2028 US$300 mil 7.125% deb due 11/15/2025 Rating Type Rating Rating Date Regulatory Identifiers Local Currency LT 11-Mar-2016 EE Regulatory Disclosures Local Currency LT 11-Mar-2016 EE Regulatory Disclosures Local Currency LT 11-Mar-2016 EE Regulatory Disclosures Local Currency LT 11-Mar-2016 EE Regulatory Disclosures Local Currency LT 11-Mar-2016 EE Regulatory Disclosures Local Currency LT 11-Mar-2016 EE Regulatory Disclosures Local Currency LT 11-Mar-2016 EE Regulatory Disclosures Local Currency LT 11-Mar-2016 EE Regulatory Disclosures Local Currency LT 11-Mar-2016 EE Regulatory Disclosures Local Currency LT 11-Mar-2016 EE Regulatory Disclosures Local Currency LT 11-Mar-2016 EE Regulatory Disclosures Local Currency LT 11-Mar-2016 EE Regulatory Disclosures