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QUESTION
Bennington Industrial Machines issued 146,000 zero coupon bonds seven years ago. The bonds originally had 30 years to maturity with a yield to...
Bennington Industrial Machines issued 146,000 zero coupon bonds seven years ago. The bonds originally had 30 years to maturity with a yield to maturity of 7.1 percent. Interest rates have recently increased, and the bonds now have a yield to maturity of 8.2 percent.
