Question
The par value of the current 25-year 9% bond of JFC Ltd is $1,000. The bond has a remaining life of 6 years and the
The par value of the current 25-year 9% bond of JFC Ltd is $1,000. The bond has a remaining life of 6 years and the coupon is paid quarterly. The current market yield for a similar risky bond is 13.79%. What would be the expected market price for this bond?
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International Financial Management
Authors: Jeff Madura
7th Edition
0324071744, 978-0324071740
