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In September 2 0 0 0 the Pullman Group arranged a bond issue for the estate of the late Marvin Gaye. The collateral on the
In September the Pullman Group arranged a bond issue for the estate of the late Marvin Gaye. The collateral on the bonds and source of cash flow for interest and principal payments consisted of future royalties from classic songs such as "What's Going On and "I Heard It Though The Grapevine." The bond issue had a $ face value and a coupon rate of If the bond matures in years, pays semiannual coupons, and the yield to maturity is what will the bond sell for? Calculate your answer to two decimal points.
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