Question
Bright Sun, Inc. sold an issue of 30-year $1,000 par value bonds to the public. The bonds had a 7.25 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 7.25 percent coupon rate and paid interest annually. It is now 6 years later. The current market rate of interest on the Bright Sun bonds is 8.70 percent. What is the current market price (intrinsic value) of the bonds?
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Auditing
Authors: Alan Millichamp, John Taylor
12th Edition
1473778999, 9781473778993
