A company has in issue some 9 percent debentures, which are redeemable at par in three years

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Question:

A company has in issue some 9 percent debentures, which are redeemable at par in three years’ time. Investors now require a yield of 10 percent. What will be the current ex-interest market value of £100-worth of debentures? What would be the current ex-interest market value if the issue had been of irredeemable bonds?