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Company A has a bond outstanding that pays a 9% coupon. The interest is paid annually, and the bond ...

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Company A has a bond outstanding that pays a 9% coupon. The interest is paid annually, and the bond ...

Company A has a bond outstanding that pays a 9% coupon. The interest is paid annually, and the bond matures in 13 years. If the market rate of interest on bonds of similar risk is 12%, what should company A’s bond be selling for, approximately?

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$807.29

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$850.33

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$872.50

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$895.41

Textbook

Financial Management: Theory and Practice

Edition: 4^th

Authors: Brigham, Ehrhardt, Gessaroli, Nason

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