Question: Please show all the steps Solve for bond price issued by ABC Oil if it has a face value of $1000, coupon rate of 8%

*Please show all the steps*

Solve for bond price issued by ABC Oil if it has a face value of $1000, coupon rate of 8% and matures in 5 years. Use the following table to find the default risk premium. (Assume default risk is not a function of maturity. 1. Use the average default risk premium of bonds with a similar rating as a benchmark for the default risk premium. 2. Add the benchmark risk premium to the risk-free rate and use it as the yield to maturity of the corporate bond.)

bond	rating	required interest rate
ABC OIL coupon rate 8% maturity 5 years	BB	???
Woodbine Energy coupon rate 4% maturity 3 years	AA-	1.93%
Atlanta Oil coupon rate 2% maturity 5 years	BB	3.2%
Enbridge Inc coupon rate 10% maturity 5 years	AAA	1.90%
Imperial Oil coupon rate 10% maturity 3 years	BB	2.85%

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Question: *Please show all the steps* Solve for bond price issued by ABC Oil if it has a face value of $1000, coupon rate of 8%

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Question: Please show all the steps Solve for bond price issued by ABC Oil if it has a face value of $1000, coupon rate of 8%