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QUESTION
international cruise lines sold an issue of 15-years $1,000 par bond to build new ships. the bomds pay 6.85% interest, semi-annually. today's...
international cruise lines sold an issue of 15-years $1,000 par bond to build new ships. the bomds pay 6.85% interest, semi-annually. today's required rate of return is 8.35%. how much should these bonds sell for today? round off to the nearest $1.
