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On January 1, 2017, Kaizen Corporation issued a $300 million note that matures in 10 years. The note has a stated interest rate of 6
On January 1, 2017, Kaizen Corporation issued a $300 million note that matures in 10 years. The note has a stated interest rate of 6 percent. When the note was issued, the market rate was 6 percent. The note pays Interest twice per year, on June 30 and December 31. Use Table 9C1. Table 90.2 At what price was the note issued? (Round time value factor to 4 decimal places. Enter your answer in dollars not in millions and rounded to the nearest whole dollar.) Issue price
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