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help me with my practice questions please GGC Corporation recently issued 10 -year bonds at a price of $1,000. These bonds pay $50 in interest
help me with my practice questions please
GGC Corporation recently issued 10 -year bonds at a price of $1,000. These bonds pay $50 in interest each six months and currently sells for $1,000. Due to additional financing needs, the firm wishes to issue new bonds that would have a maturity of 10 years, a par value of $1,000, and pay $30 in interest every six months. If both bonds have the same yield, how many new bonds must GGC issue to raise $2,000,000 cash Step by Step Solution
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