Question
Really struggling with this one. Any help is greatly appreciated. Thx! Ship Shape Marine (SSM) needs $92 million to support future growth. If SSM issues
Really struggling with this one. Any help is greatly appreciated. Thx!
Ship Shape Marine (SSM) needs $92 million to support future growth. If SSM issues bonds to raise funds, flotation (issuance) costs will be 8 percent. Each bond will be sold for $1,000; fractions of bonds cannot be issued. How many bonds must be issued so that SSM has $92 million after flotation costs to use for its planned growth?
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Arshad Ahmad, Jordan Fortino
6th Canadian edition
1259453146, 978-1259453144
