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The International Publishing Group is raising $10 million by issuing 15-year bonds with a coupon rate of 8.49 percent. Coupon payments will be made annually.
The International Publishing Group is raising $10 million by issuing 15-year bonds with a coupon rate of 8.49 percent. Coupon payments will be made annually. Investors buying the bonds today will earn a yield to maturity of 8.49 percent. At what price will the bonds sell in the marketplace? Explain.
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Financial Modeling
Authors: Simon Benninga, Tal Mofkadi
5th Edition
0262046423, 9780253337825
