Question
Fly Corporation issued a $ 4,000,000, 8%, 6 years convertible bonds on 1/1/2020. The bonds were issued at 97, and pay interest semiannually, on July
Fly Corporation issued a $ 4,000,000, 8%, 6 years convertible bonds on 1/1/2020. The bonds were issued at 97, and pay interest semiannually, on July 1, and January 1 of every year.
Required: Calculate the total financing (borrowing) cost for the company.
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Quality Audits For Improved Performance
Authors: Dennis R. Arter
3rd Edition
0873895703, 978-0873895705
