Bond n also has face value of 22500 and maturity of 22, Ask an Expert

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Q1) Mangold Corporation has two different bonds presently outstanding:

Bond M has face value of $22,500 and matures in 22 years. Bond makes no payments for first 6 years, then pays $1,500 every six months over subsequent 10 years, and finally pays $1,800 every six months over last 6 years.

Bond N also has face value of $22,500 and maturity of 22 years. It makes no coupon payments over life of bond. If required return on these bonds is 12% compounded semiannually, present price of bonds M and N is $_____ and $_____ respectively.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M921571

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