Question: On July 1 , 2 0 1 5 , ABC Co . issued 1 0 - year, $ 4 , 5 7 4 million maturity

On July 1,2015, ABC Co. issued 10-year, $4,574 million maturity value, 3% coupon bonds when the market rate was 2% for a cash price of $4,994 million. Interest was payable semi-annually on Dec. 31 and June 30. ABC also issued $3,527 million face value, 20-year, zero coupon bonds on July 1,2017, that matured on June 30,2037, for a cash price of $2,619million. The effective market interest rate at issuance was 1.5%. ABC repurchased $1,143 million face value coupon bonds on June 30,2020 for $1,220 million cash (after interest was paid) and $582 million in face value of the zero-coupon bonds on June 30,2021 for a purchase price of $432 million cash.Round to nearestmillionwith no decimals. This includes all interim number calculations like cash interest. Example:4168 M x .1968=820.26=820 M. Do not include .26 or add zeroes.Roundpercentagesto two decimal places and dollar amounts should be in millions with no decimals.Rounding a percentage to two decimals example: 422/1368=.30847=30.85%. For present values,we recommend using the round function for this in excel. If using Excel to determine your present values, please upload that file in addition to any Word or PDF, however, excel files are not the best place for lengthy written answers. In your excel file, show all your work, including anyPV factors with five decimal places.
On July 1 , 2 0 1 5 , ABC Co . issued 1 0 - year,

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