Question
Essary Enterprises has bonds on the market making annual payments, with nine years to maturity, a par value of $1,000, and selling for $954. At
Essary Enterprises has bonds on the market making annual payments, with nine years to maturity, a par value of $1,000, and selling for $954. At this price, the bonds yield 6.2 percent.
| What must the coupon rate be on the bonds |
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Fundamentals Of Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan, Gordon Roberts, J. Ari Pandes, Thomas Holloway
10th Canadian Edition
1259654753, 9781259654756
