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johnpaech johnpaech
wrote...
Posts: 1098
Rep: 7 0
6 years ago
Wyatt Oil is contemplating issuing a 20-year bond with semiannual coupons, a coupon rate of 7%, and a face value of $1000. Wyatt Oil believes it can get a BBB rating from Standard and Poor's for this bond issue. If Wyatt Oil is successful in getting a BBB rating, then the issue price for these bonds would be closest to:
A) $800
B) $891
C) $901
D) $1000
Textbook 
Corporate Finance: The Core

Corporate Finance: The Core


Edition: 4th
Authors:
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wrote...
6 years ago
C
Explanation:  C) FV = 1000, N = 40, I = 4, PMT = 35, Compute PV = 901.04
johnpaech Author
wrote...
5 years ago
You took a load off my back, thanks for answering correctly
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