Question
Fresh Water, Inc. sold an issue of 3-year $1,000 par value bonds to the public. The bonds have a 8.60 percent coupon rate and pay
Fresh Water, Inc. sold an issue of 3-year $1,000 par value bonds to the public. The bonds have a 8.60 percent coupon rate and pay interest annually. The current market rate of interest on the Fresh Water, Inc. bonds is 11.69 percent. What is the current market price of the bonds?
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Financial Reporting and Analysis
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
7th edition
1259722651, 978-1259722653
