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QUESTION
Two Questions: Legal Trade Company has 6 percent coupon bonds on the market with 17 years left until maturity. The bond makes annual payments. If the...
Two Questions:
- Legal Trade Company has 6 percent coupon bonds on the market with 17 years left until maturity. The bond makes annual payments. If the bond currently sells for $838.07, what is the YTM?
2. Malone Manufacturing Company) has $10 million in outstanding debt (10,000 bonds with a face value of $1,000) with a current market value of $1100, 9 years until maturity, and a coupon rate of 7 percent (annual payments). What is the cost of debt for Malone Manufacturing Company?
