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Business, 25.06.2020 05:01 letsgetcookingblog

Six years ago, James Corporation sold a $100 million bond issue to expand its facilities. Each debenture has a $1,000 par value, an original maturity of 20 years (there are now 14 years left to maturity), and an annual coupon rate of 11.5% with semiannual payments. If you require a 14% return, what price would you pay today for a James bond?

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Six years ago, James Corporation sold a $100 million bond issue to expand its facilities. Each deben...
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