Question
Bright Sun, Inc. sold an issue of 30-year $1,000 par value bonds to the public. The bonds had a 8.31 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 8.31 percent coupon rate and paid interest annually. It is now 20 years later. The current market rate of interest on the Bright Sun bonds is 12.81 percent. What is the current market price (intrinsic value) of the bonds?
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Meetings Expositions Events And Conventions An Introduction To The Industry
Authors: George Fenich
5th Edition
0134735900, 9780134735900
