A 10 -year 6%$10,000 par value bond with a semi-annual coupon is offered. This bond is callable
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A 10 -year 6%$10,000 par value bond with a semi-annual coupon is offered. This bond is callable in 7 years at a call price of 10,475.00. What is the highest price an investor would be willing to pay for this bond if their required yield is 13%?
Related Book For
Financial Management Theory and Practice
ISBN: 978-1305632295
15th edition
Authors: Eugene F. Brigham, Michael C. Ehrhardt
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