Question: Problem 8.17 x Your answer is incorrect. Try again. Blossom, Inc., has a bond issue maturing in seven years that is paying a coupon rate

Problem 8.17 x Your answer is incorrect. Try again. Blossom, Inc., has a bond issue maturing in seven years that is paying a coupon rate of 10.5 percent (semiannual payments). Management wants to retire a portion of the issue by buying the securities in the open market. If it can refinance at 9.0 percent, how much will Blossom pay to buy back its current outstanding bonds? (Round answer to 2 decimal places . 15.25) Blossom will pay 289802.53

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