A firm has an issue of 1000 par value bonds with a 9, Ask an Expert

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A firm has an issue of $1,000 par value bonds with a 9 percent stated interest rate outstanding. The issue pays interest annually and has 20 years remaining to its maturity date. If the bonds of similar risk are currently earning 11 percent, the firm's bond will sell for___ today. Can please explain how to solve this exercise.

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Financial Management, Finance

Category:- Financial Management
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