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3. D Corporation has a 13% coupon bond in the market with 20 years to mature. The bond is paid monthly and has a
3. D Corporation has a 13% coupon bond in the market with 20 years to mature. The bond is paid monthly and has a face value of $1,000. If the annual interest rate on these bonds is 16%, what is the current price of the bonds?
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Fundamentals of Corporate Finance
Authors: Stephen A. Ross, Randolph W. Westerfield, Bradford D.Jordan
8th Edition
978-0073530628, 978-0077861629
