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Microhard has issued a bond with the following characteristics: Par: $1,000 Time to maturity: 20 years Coupon rate: 8 percent Semiannual payments Calculate the price
| Microhard has issued a bond with the following characteristics: |
| Par: $1,000 |
| Time to maturity: 20 years |
| Coupon rate: 8 percent |
| Semiannual payments |
| Calculate the price of this bond if the YTM is (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.): |
| Price of the Bond | ||
| a. | 8 percent | $ |
| b. | 11 percent | $ |
| c. | 5 percent | $ |
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Corporate Finance With Connect Access Card
Authors: Stephen Ross ,Randolph Westerfield ,Jeffrey Jaffe
10th Edition
1259672484, 978-1259672484
