Bond valuationmadsen motorss bonds have 21 years remaining, Ask an Expert

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Bond valuation

Madsen Motors's bonds have 21 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 7.5%; and the yield to maturity is 6%. What is the bond's current market price? Round your answer to the nearest cent.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92307754

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