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solina solina
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6 years ago
Caldwell, Inc. sold an issue of 30-year, $1,000 par value bonds to the public. The bonds carry a 10.85% coupon rate and pay interest semiannually. It is now 12 years later. The current market rate of interest on the Caldwell bonds is 8.45%. What is the current market price (intrinsic value) of the bonds? Round off to the nearest $1.
A) $751
B) $1,177
C) $1,220
D) $976
Textbook 
Financial Management: Principles and Applications

Financial Management: Principles and Applications


Edition: 13th
Authors:
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Heavy Heart Thank you bio-forums! Heavy Heart
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LutionalLutional
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6 years ago
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solina Author
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6 years ago
Really appreciate the assistance, very kind of you!
Heavy Heart Thank you bio-forums! Heavy Heart
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4 years ago
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