Question
Assuming a Ingersoll-Rand bond has a coupon rate of 6 %, pays semi-annual interest payments, and has twelve years to maturity. If investors are willing
Assuming a Ingersoll-Rand bond has a coupon rate of 6 %, pays semi-annual interest payments, and has twelve years to maturity. If investors are willing to accept a 8% rate of return on bonds of similar quality, what is the value of the Ingersoll-Rand? Enter answer in positive up to two decimal points. (X,XXX.XX)
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Contemporary Financial Management
Authors: R. Charles Moyer, James R. Mcguigan, William J. Kretlow
9th Edition
032416470X, 9780324164701
