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On March 1st, 2016, Thompson Warehouses Inc. issued twenty-five-year 10% semiannual coupon bonds with a $1,000 face value each. The first coupon date is 1-Sep-2016.
On March 1st, 2016, Thompson Warehouses Inc. issued twenty-five-year 10% semiannual coupon bonds with a $1,000 face value each. The first coupon date is 1-Sep-2016. Since then, interest rates in general have risen and the yield to maturity on the Thompson bonds is now 12% on September 1st, 2020. Given this information, what is the current price for a Thompson bond?
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