A convertible bond has a face value of $900 and a conversion price of $45 per share. The stock is currently selling at $32 per share. The bond pays $60 per year in interest and is selling in the market for $880. It matures in 6 years, and market rates are 8% annually.
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- AccountingThe face value of a bond is $3000.00. The firm offering the bond pays 1% of the sales price to the selling agency and will pay $300.00 to the buyer every year. The bond matures in ten years and the firm pays $3000.00 to the buyer at the end of the tenth year. What is the effective rate of return on this bond to the firm offering it?Harrimon Industries bonds have 4 years left to maturity. Interest is paid annually, and the bonds have a $1,000 par value and a coupon rate of 9%. What is the YTM at a current market price of $1,104?
- Kessen Inc.'s bonds mature in 7 years, have a par value of $1,000, and make an annual coupon payment of $70. The market interest rate for the bonds is 8.5%. What is the bond's price?A 1,000 bond with 6% semiannual coupons is redeemable at 1,050 in 20 years. The bond is selling for 975. (a) What is the nominal annual yield rate convertible semiannually to a purchaser who buys the bond at this price? (b) What price should be paid to earn a nominal annual rate of 7% convertible semiannually.Your company currently has 6.75% coupon-rate bonds (coupons are paid semi-annually) with ten years to maturity and a price of $1085. If you want to issue new 10-year coupon bonds at par, what coupon rate do you need to set? (Assume that for both bonds, the next coupon payment is due in exactly 6 months.) You need to set a coupon rate of %. (Round to two decimal places.)
- Morin Company's bonds mature in 8 years, have a par value of $1,000, and make an annual coupon interest paymentof $65. The market requires an interest rate of 8.2% on these bonds. What is the bond's price?Puzzle's bonds have 15 years remaining to maturity. Interest is paid semiannually, they have a $1,000 par value, the coupon interest rate is 12 %, and the yield to maturity is 9.5%. What is the bond's current market price?Gavilon Companys bonds mature in 8 years, have a par value of $1,000, and make an annual coupon interest payment of $65. The market requires an interest rate of 7.5% on these bonds. What is the bonds price?