Question
Nesmith Corporation's outstanding bonds have a $1,000 par value, a 12% semiannual coupon, 12 years to maturity, and a 16% YTM. What is the bond's
Nesmith Corporation's outstanding bonds have a $1,000 par value, a 12% semiannual coupon, 12 years to maturity, and a 16% YTM. What is the bond's price? Round your answer to the nearest cent.
$ ___
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
