Question
Q:26 Caspian Sea Drinks needs to raise $45.00 million by issuing bonds. It plans to issue a 13.00 year semi-annual pay bond that has a
Q:26
Caspian Sea Drinks needs to raise $45.00 million by issuing bonds. It plans to issue a 13.00 year semi-annual pay bond that has a coupon rate of 5.05%. The yield to maturity on the bond is expected to be 4.88%. How many bonds must Caspian Sea issue? (Note: Your answer may not be a whole number. In reality, a company would not issue part of a bond.)
Round to 0 decimal places
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Financial Management Principles and Applications
Authors: Sheridan Titman, Arthur Keown, John Martin
12th edition
133423824, 978-0133423822
