4C2 Pet Food Company bonds pay an annual coupon rate of 13.46 percent. Coupon payments are paid semiannually. Bonds have 17 years to maturity and
4C2
Pet Food Company bonds pay an annual coupon rate of 13.46 percent. Coupon payments are paid semiannually. Bonds have 17 years to maturity and par value of $1,000. Compute the value of Pet Food Company bonds if the market interest rate on this type of bond is 9.97 percent.
Round the answer to two decimal places.
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Authors: Judith J. Baker, R.W. Baker
3rd Edition
076377894X, 978-0763778941
