Question: Beck Corporation would like to issue a bond to borrow money for 10 years. Beck promises to repay $1,000 the end of the 10th year

Beck Corporation would like to issue a bond to borrow money for 10 years. Beck promises to repay $1,000 the end of the 10th year and 8% coupon rate each year. The interest rate required in the market on a similar bond is 10%.

What's the par value?

What's the coupon payment?

What's the coupon rate?

Please explain final answer.

Thanks!

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