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Kintel, Inc., management wants to raise $1 million by issuing six-year zero coupon bonds with a face value of $1,000. The company's investment banker...
Kintel, Inc., management wants to raise $1 million by issuing six-year zero coupon bonds with a face value of $1,000. The company's investment banker states that investors would use an 11.82 percent discount rate to value such bonds. Assume semiannual coupon payments.