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The company has one bond outstanding. The bond has a $20,000 face value and matures in 20 years. The bond makes no semi annual interest
The company has one bond outstanding. The bond has a $20,000 face value and matures in 20 years. The bond makes no semi annual interest payments for the first 6 years, then pays $1,100 every six months over the next 8 years and finally pays $1,400 every 6 months over the last 6 years. The annual YTM is 5.6%. What is the price of this bond today?
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