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QUESTION
The Sisyphean Company has a bond outstanding with a face value of $5000 that reaches maturity in 5 years. The bond certificate indicates that the...
The Sisyphean Company has a bond outstanding with a face value of $5000 that reaches maturity in 5 years. The bond certificate indicates that the stated coupon rate for this bond is 8.9% and that the coupon payments are to be made semiannually.
Assuming the appropriate YTM on the Sisyphean bond is 9.1%, then the price that this bond trades for will be closest to ________.
