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With celebrity? bonds, celebrities raise money by issuing bonds to investors. The royalties from sales of the music are used to pay interest and principal on the bonds. In April of? 2009, EMI announced that it intended to securitize its back catalogue with the help of the Bank of Scotland. The bond was issued with a coupon rate of 6.56.5?% and will mature on this day 2121 years from now. The yield on the bond issue is currently 66?%. At what price should this bond trade? today, assuming a face value of ?$1 comma 0001,000 and annual? coupons

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92167384

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