Answered: Nesmith Corporation's outstanding bonds…

Nesmith Corporation's outstanding bonds have a $1,000 par value, a 7% semiannual coupon, 9 years to maturity, and a 9% YTM. What is the bond's price? Round your answer to the nearest cent. $

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter4: Bond Valuation

Section: Chapter Questions

Problem 10P

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Nesmith Corporation's outstanding bonds have a $1,000 par value, a 7% semiannual coupon, 9 years to maturity, and a 9% YTM. What is the bond's price? Round your
answer to the nearest cent.
$

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