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Business, 29.10.2019 23:31 itsmemichellel

A20-year bond of a firm in severe financial distress has a coupon rate of 13% and sells for $905. the firm is currently negotiating the debt, and it appears that the lenders will allow the firm to reduce coupon payments on the bond to one-half the originally contracted amount. the firm can handle these lower payments. what is (a) the stated and (b) the expected yield to maturity of the bonds?

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A20-year bond of a firm in severe financial distress has a coupon rate of 13% and sells for $905. th...
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