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Pembroke Co. wants to issue new 16-year bonds for some much-needed expansion projects. The company currently has 9 percent coupon bonds on the market that
Pembroke Co. wants to issue new 16-year bonds for some much-needed expansion projects. The company currently has 9 percent coupon bonds on the market that sell for $1,095, make semiannual payments, and mature in 16 years. What coupon rate should the company set on its new bonds if it wants them to sell at par? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16)) Coupon rate %
Pembroke Co. wants to issue new 16-year bonds for some much-needed expansion projects. The company currently has 9 percent coupon bonds on the market that sell for $1,095, make semiannual payments, and mature in 16 years.
What coupon rate should the company set on its new bonds if it wants them to sell at par? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))
Coupon rate
%
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Intermediate Financial Management
Authors: Brigham, Daves
10th Edition
978-1439051764, 1111783659, 9780324594690, 1439051763, 9781111783655, 324594690, 978-1111021573
