Nesmith Corporation's outstanding bonds have a $1,000 par value, a 6% semiannual coupon, 19 years to maturity, and an 8% YTM. What is the bond's price? Round your answer to the nearestcent.

The price of the bonds having $1,000 par value is $806.32 Explanation:Bond price is the price of the…

Answered: Nesmith Corporation's outstanding bonds…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 3EB: Smashing Cantaloupes Inc. issued 5-year bonds with a par value of $35,000 and an 8% semiannual...

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Nesmith Corporation's outstanding bonds have a $1,000 par value, a 6% semiannual coupon, 19 years to maturity, and an 8% YTM. What is the bond's price? Round your answer to the nearest cent.