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please show work! Brief Exercise 14-3 Determining the price of bonds [L014-2] A company issued 7 % , 20- year bonds with a face amount
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Brief Exercise 14-3 Determining the price of bonds [L014-2] A company issued 7 % , 20- year bonds with a face amount of $90 million. The market yield for bonds of similar risk and maturity is 7 % Interest is paid semiannually. At what price did the bonds sell? (EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1 (Use appropriate factor(s) from the tobles provided. Enter your answers in whole dollars. Round final answers to the nearest whole dollar.) Table values are based on: 40 n=l 4.0% Present Value Amount Cash Flow Interest Principal Price of bonds > Next Step by Step Solution
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