Question
Andrews wants to retire the following bond early: Series - 10.4S2031 Face - $6,000,000 Yield - 12.2% Close - $85.18 Assuming no brokerage fees, calculate
Andrews wants to retire the following bond early:
Series - 10.4S2031
Face - $6,000,000
Yield - 12.2%
Close - $85.18
Assuming no brokerage fees, calculate the amount of cash needed to retire the bond.
$6,000,000
$889,176
$5,110,824
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
