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The Company is issuing 10,000 bonds, each with a face value of $975, a stated rate of 8.5%, and a 20-year term. When the bonds
The Company is issuing 10,000 bonds, each with a face value of $975, a stated rate of 8.5%, and a 20-year term. When the bonds are issued, the market rate is 7.1%.
- What is the maximum price an investor will pay for a single bond?
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Foundations Of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
17th Edition
126001391X, 978-1260013917
