Question
X issued a new 20-year, $1,000 par, 8% annual coupon bonds. The market price of the bonds is $1,033.45 each. The flotation expense on the
X issued a new 20-year, $1,000 par, 8% annual coupon bonds. The market price of the bonds is $1,033.45 each. The flotation expense on the new bonds is $50 per bond. The required rate is 7.2%. The price of debt for the newly-issued bonds is?
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A Guide To Starting Your Hedge Fund
Authors: John Thompson, Erik Serrano Berntsen
1st Edition
0470519401, 978-0470519400
