Question
Nike needs to raise $60 million and wants to issue 15-year zero-coupon bonds for this purpose. Assume the required return on the bond issue will
Nike needs to raise $60 million and wants to issue 15-year zero-coupon bonds for this purpose. Assume the required return on the bond issue will be 4.8% Spear-It's tax rate is 21%. The par value of each bond is $1000. How many bonds would the company need to issue to raise the money it requires?
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Business Accounting An Introduction To Financial And Management Accounting
Authors: Jill Collis, Roger Hussey, Andrew Holt, Holt Collis, J. Collis
2nd Edition
0230276237, 978-0230276239
