Question
Philips Industries has bonds outstanding ($1,000 par value) that mature 3 years from today and have a coupon interest rate 9 3/8 percent. Calculate the
Philips Industries has bonds outstanding ($1,000 par value) that mature 3 years from today and have a coupon interest rate 9 3/8 percent.
Calculate the maximum price an investor should be willing to pay if the investor desires a 10 percent yield to maturity.
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Introduction to Corporate Finance
Authors: Scott B. Smart, William L Megginson
2nd edition
9780324658958, 0324658958, 978-0324657937
