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Finance

Problem:

Valley Manufacturing Inc. just issued $1,000 par 20-year bonds. The bonds sold for $758.18 and pay interest semiannually. Investors require a rate of 9% on the bonds.

Required:

What is the bonds' coupon rate? Please provide all calculations.

Select one:

A. 9%

B. 8%

C. 6%

D. 7%

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91146185

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