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Suppose you structured a bond deal for Kanye West that paid him a large lump sum amount upfront, with future royalties and streaming revenues from
Suppose you structured a bond deal for Kanye West that paid him a large lump sum amount upfront, with future royalties and streaming revenues from his albums going towards payments to bondholders. Each bond has a face value of $1,000 and a coupon rate of 6.2% with semi-annual coupons. If the bonds have 13 years remaining until maturity and the current yield to maturity is 8.2%, how much is each bond worth? Round to the nearest cent.
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