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To raise funds for Gravina Island Bridge, the Government of Alaska issued bonds. The bonds, called Nowhere Bonds have a face value of $3,000, 19
To raise funds for Gravina Island Bridge, the Government of Alaska issued bonds. The bonds, called "Nowhere Bonds" have a face value of $3,000, 19 years to maturity and a 7% coupon rate (annual coupons with the first coupon due in one year). The bonds are priced at $771.82. What is the yield to maturity of the Nowhere Bonds?
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Corporate Financial Management
Authors: Glen Arnold, James Pickford
2nd Edition
0582821762, 978-0582821767
