Question
Madsen Motors's bonds have 6 years remaining to maturity. Interest is paid annually, they have a $1,000 par value, the coupon interest rate is 10%,
Madsen Motors's bonds have 6 years remaining to maturity. Interest is paid annually, they have a $1,000 par value, the coupon interest rate is 10%, and the yield to maturity is 12%. What is the bond's current market price? Round your answer to the nearest cent.
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Foundations Of Financial Management
Authors: Stanley B. Block, Geoffrey A. Hirt, Bartley R. Danielsen
13th Edition
0073382388, 978-0073382388
