Sandhill, Inc., has a bond issue maturing in seven years that is paying a coupon rate of

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Sandhill, Inc., has a bond issue maturing in seven years that is paying a coupon rate of 7.5 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 6.0 percent, how much will Sandhill pay to buy back its current outstanding bonds?(Round answer to 2 decimal places, e.g. 15.25.)

Posted Date: May 19, 2024 03:10 AM

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Sandhill, Inc., has a bond issue maturing in seven years that is paying a coupon rate of

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