(Answered) Two-years ago sams sold a 950 million bond issue to finance

Finance

Two-years ago, Sams sold a $950 million bond issue to finance the purchase of new shoes. These bonds were issued in $1000 denominations with an original maturity of 12 years and a coupon rate of 12%. Determine the value today of one of these bonds to an investor who requires a 14% rate of return on these securities?

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