Problem 6-32 Bond Prices [LO 2] You find the following corporate bond quotes. To calculate the number of years until maturity, assume that it
Problem 6-32 Bond Prices [LO 2] You find the following corporate bond quotes. To calculate the number of years until maturity, assume that it is currently January 15, 2022. The bonds have a par value of $2,000 and semiannual coupons. Estimated $ Volume Company (Ticker) Xenon, Incorporated (XIC) Kenny Corporation (KCC) Coupon 5.900 Maturity January 15, 2039 Last Price Last Yield (000s) 7.170 January 15, 2033 94.243 ?? ?? 57,367 6.12 48,946 Williams Company (WICO) ?? January 15, 2035 94.785 6.94 43,807 a. What price would you expect to pay for the Kenny Corporation bond? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. b. What is the bond's current yield? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16. > Answer is complete but not entirely correct. a. Price $ 2,343.14 X b. Current yield 6.12%
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