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Please show all work. All info given is what was provided in the book. Refer to the following information: $400 million issued at a price
Please show all work. All info given is what was provided in the book.
Refer to the following information: $400 million issued at a price of 101.50% plus accrued interest (proceeds to company 101.300%) through First Boston Corporation. Amount issued Offered 9.25% per annum, payable February 15 and August 15. Interest Suppose the debenture was issued on September 1, 1992, at 101.50%. How much would you have to pay to buy one bond delivered on September 15? Dont forget to include accrued interest. What is the amount of the first interest paymentStep by Step Solution
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