Question
A corporation issued 14-year bonds a year ago at a coupon rate of 8.6 percent. The coupons are semiannual, the par value is $1,000, and
A corporation issued 14-year bonds a year ago at a coupon rate of 8.6 percent. The coupons are semiannual, the par value is $1,000, and the YTM is 6.9 percent. Calculate the current bond price. (Do not round intermediate calculations. Round your final answer to 2 decimal places, e.g., 32.16.)
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Analysis For Financial Management
Authors: Robert Higgins, Jennifer Koski, Todd Mitton
13th Edition
1260772365, 978-1260772364
