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please answer both parts, thanks #8 LBJ Enterprises is issuing new bonds for a capital budgeting project. The bonds will have 24.00 year maturities with
please answer both parts, thanks
#8 LBJ Enterprises is issuing new bonds for a capital budgeting project. The bonds will have 24.00 year maturities with a coupon rate of 7.10% APR with semi-annual coupon payments (assume a face value of $1,000 on the bond). The current market rate for similar bonds is 8.22% APR. The company hopes to raise $33.00 million with the new issue. Based on the current market rate, what will one of the new bonds sell for? Submit Answer format: Currency: Round to: 2 decimal places. #9 LBJ Enterprises is issuing new bonds for a capital budgeting project. The bonds will have 24.00 year maturities with a coupon rate of 7.10% APR with semi-annual coupon payments (assume a face value of $1,000 on the bond). The current market rate for similar bonds is 8.22% APR. The company hopes to raise $33.00 million with the new issue. To raise the debt, how many bonds must the company issue? (round to two decimal places) Submit Answer format: Number: Round to: 2 decimal placesStep by Step Solution
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