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Frusciante, Inc., has 290,000 outstanding bonds. The bonds have a face value of $ 1,000, a coupon rate of 7 percent paid semi-annually and 8
Frusciante, Inc., has 290,000 outstanding bonds. The bonds have a face value of $ 1,000, a coupon rate of 7 percent paid semi-annually and 8 years to maturity. The current YTM of bonds is 7.5 percent. The company also has 10 million shares outstanding with a market price of $ 23 per share. What is the market value of the company?
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
17th Edition
032459237X, 978-0324592375
