(Answered) A company has an 8 bond that has a face value of 1000 and

Economics

A company has an 8% bond that has a face value of $1000 and matures in 30 years. Assume that coupon payments are made semi-annually. The bonds are callable after 20 years at 108% of par value. What is the value of the bond if rates drop immediately to 6%?

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