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Gertie Restaurants decides to purchase Smith Brothers and needs to finance the acquisition by issuing $100,000,000 of 5.65 percent coupon bonds with semiannual payments and
Gertie Restaurants decides to purchase Smith Brothers and needs to finance the acquisition by issuing $100,000,000 of 5.65 percent coupon bonds with semiannual payments and a yield to maturity of 6.90 percent. The bonds will mature in 5 years. What is the market price per bond if the face value is $1,000? $947.89 $947.49 $964.68 $1,000.00 $946.28 $1.053.79 $948.61
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