Twenty-five-year B-rated bonds of Katz Copying Machines were initially issued at a 12 percent yield. After 10
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Twenty-five-year B-rated bonds of Katz Copying Machines were initially issued at a 12 percent yield. After 10 years the bonds have been upgraded to Aa2. Such bonds are currently yielding 10 percent. Use Table 16-3 on page 500 to determine the price of the bonds with 15 years remaining to maturity. (You do not need the bond ratings to enter the table; just use the basic facts of the problem.)
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Related Book For 
Foundations of Financial Management
ISBN: 978-0077454432
14th edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
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