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answer please Things Get Messi Enterprises is issuing new bonds for a capital budgeting project. The bonds will have 25.00 year maturities with a coupon
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Things Get Messi Enterprises is issuing new bonds for a capital budgeting project. The bonds will have 25.00 year maturities with a coupon rate of 8.00% APR with semi-annual coupon payments (assume a face value of $1,000 on the bond). The current market rate for similar bonds is 5.54% APR. The company hopes to raise $35.00 million with the new issue. Based on the current market rate, what will a new bond sell for? Answer format: Currency: Round to: 2 decimal places Step by Step Solution
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International financial management
Authors: Jeff Madura
13th edition
978-1337099738, 1337099732, 9781337515894, 1337515892, 978-1337587211
