Question
You have the opportunity to purchase a 29 -year, $1,000 par value bond that has an annual coupon rate of 11 %. If you require
You have the opportunity to purchase a
29
-year,
$1,000 par value bond that has an annual coupon rate of
11
%.
If you require a YTM of
7.6
%,
how much is the bond worth to you?
The price of the bond is
$nothing
.
(Round to the nearest cent.)
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Corporate Financial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
12th edition
1305041399, 1285078586, 978-1-133-9524, 9781133952428, 978-1305041394, 9781285078588, 1-133-95241-0, 978-1133952411
