Renegade Sports have issued 5 year bonds to raise capital for expansion into new markets. The bonds
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Question:
Renegade Sports have issued 5 year bonds to raise capital for expansion into new markets. The bonds pay coupons annually at an effective annual rate of 10% pa. The face amount of the bonds is $105,000 and they have an effective annual yield of 4% pa. Calculate the duration (D) of the Renegade bonds. Give your answer in years to 2 decimal places.
Related Book For
Federal Taxation 2021 Corporations, Partnerships, Estates & Trusts
ISBN: 9780135919460
34th Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse
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