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QUESTION
A company issued 7%, 20-year bonds with a face amount of $60 million. The market yield for bonds of similar risk and maturity is 7%. Interest is paid...
A company issued 7%, 20-year bonds with a face amount of $60 million. The market yield for bonds of similar risk and maturity is 7%. Interest is paid semiannually. At what price did the bonds sell? (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)
