(Answered) Last year the harvest time corporation sold 40000000 worth

Finance

Last year, The Harvest Time Corporation sold $40,000,000 worth of 7.5% coupon, 15-year maturity, $1000 par value, AA-rated; non-callable bonds to finance its business expansion. Currently, investors are demanding a yield of 8.5% on similar bonds. If you own one of these bonds and want to sell it, how much money can you expect to receive on it ?

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