Question
Gabriele Enterprises has bonds on the market making annual payments, with seven years to maturity, a par value of $1,000, and selling for $974.
Gabriele Enterprises has bonds on the market making annual payments, with seven years to maturity, a par value of $1,000, and selling for $974. At this price, the bonds yield 7.2 percent. What must the coupon rate be on the bonds? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Coupon rate %
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Fundamentals Of Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
13th Edition
1265553602, 978-1265553609
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