Two-years ago trans-atlantic airlines sold a 250 million, Ask an Expert

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Two-years ago, Trans-Atlantic Airlines sold a $250 million bond issue to finance the purchase of new jet airliners. These bonds were issued in $1000 denominations with an original maturity of 12 years and a coupon rate of 9%. Determine the value today of one of these bonds to an investor who requires a 11% rate of return on these securities.

a. $786

b. $882

c. $563

d. $870

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92402660

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