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a company issued 4 5 0 0 face value bonds at par with a 5 % coupon rate that pays interest semi annually. The bonds

a company issued 4500 face value bonds at par with a 5% coupon rate that pays interest semi annually. The bonds mature in four years. The company had an AA credit rating at issuance. Shortly after the bonds were issued, the companys credit rating was upgraded to AAA, which decreased its cost of debt to 4.5% what is the price of bonds under the companys new credit rating? Solve this using a TVM solver on a financial calculator.

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