Question
Bright Sun, Inc. sold an issue of 30-year $1,000 par value bonds to the public. The bonds had a 7.45 percent coupon rate and paid
Bright Sun, Inc. sold an issue of 30-year $1,000 par value bonds to the public. The bonds had a 7.45 percent coupon rate and paid interest annually. It is now 14 years later. The current market rate of interest on the Bright Sun bonds is 8.14 percent. What is the current market price (intrinsic value) of the bonds?
Round the answer to two decimal places.
Your Answer:
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The Compensation Committee Handbook
Authors: James F. Reda, Stewart Reifler, Michael L. Stevens
4th Edition
1118370619, 978-1118370612
