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Exodus Limousine Company has $1,000 par value bonds outstanding at 16 percent interest. The bonds will mature in 50 years. Use Appendix B and Appendix

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Exodus Limousine Company has $1,000 par value bonds outstanding at 16 percent interest. The bonds will mature in 50 years. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods. Compute the current price of the bonds if the percent yield to maturity is: (Do not round intermediate calculations. Round your final answers to 2 decimal places. Assume interest payments are annual.) Answer is complete but not entirely correct. a. 5 percent b. 6 percent Bond Price 2,920.96 5.55

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