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Renfro Rentals has issued bonds that have a 7% coupon rate, payable semiannually. The bonds mature in 12 years, have a face value of $1,000,
Renfro Rentals has issued bonds that have a 7% coupon rate, payable semiannually. The bonds mature in 12 years, have a face value of $1,000, and a yield to maturity of 5.5%. What is the price of the bonds? Round your answer to the nearest cent
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Managerial Accounting Tools For Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Ibrahim M. Aly, Donald E. Kieso
6th Canadian Edition
1119731828, 9781119731825
