Question
Madsen Motors's bonds have 12 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 10.5%;
Madsen Motors's bonds have 12 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 10.5%; and the yield to maturity is 5%. What is the bond's current market price? Round your answer to the nearest cent.
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Middle Market M And A Handbook For Advisors Investors And Business Owners
Authors: Kenneth H. Marks, Christian W. Blees, Michael R. Nall, Thomas A. Stewart
2nd Edition
1119828104, 978-1119828105
