Question: As this book was being written, the business press reported the following information concerning bonds issued by AT&T: Bonds Yield Close AT&T 6.5 7.3 89.5

As this book was being written, the business press reported the following information concerning bonds issued by AT&T:

Bonds Yield Close

AT&T 6.5 7.3 89.5

Explain the meaning of the reported information. If you bought AT&T bonds with $10,000 face value, how much would you pay (based on the preceding information reported)? Assume that the bonds were originally sold at par. What impact would the decline in value have on the financial statements for AT&T?

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