Question
7 years ago Eastern Corporation issued 20-year bonds that had a $1,200 face value, paid interest annually, and had a coupon rate of 9 percent.
7 years ago Eastern Corporation issued 20-year bonds that had a $1,200 face value, paid interest annually, and had a coupon rate of 9 percent. If the market rate of interest is 5.5 percent today, what is the current market price of an Eastern Corporation bond
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Contemporary Financial Management
Authors: Don Cyr, Alfred Kahl, William Rentz, R. Moyer
1st Edition
017616992X, 978-0176169923
