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- The City of Toronto has an outstanding $5 million face value bond carrying a 7% coupon. It makes payments of $436,150 to its sinking fund every six months. What is the annual cost of the bond debt? $1,222,300 $1,250,000 O$436,150 $1,056,987A 15-year municipal bond was issued 5 years ago. Its coupon interest rate is 4%, interest payments are made semiannually, and its face value is $1000. If the current market interest rate is 6.09%, what should be the bond’s price? Note: The issuer of the bond (city, state, company) makes interest payments to the bondholder (at the coupon rate), as well as a final value payment.The Province of Ontario issued a $175 million face value bond on March 1, 1995, carrying a 9.5% coupon with 50 years until maturity. The matching sinking fund, with the payment rounded up to the next $100, is expected to earn 6.3% compounded semi-annually, and will retire the debt in full upon maturity. 1. Calculate the annual cost of the bond debt 2. Calculate the book value of the debt on September 1, 2015
- Upvote will be given. Write the complete solutions legibly. The encircled letter is the correct answer. Solve it manually.The following information applies to this question: Johnson Corporation plans to obtain financing with a $1,000,000 bond issue that has a term of 10 years. Payments wilI be made semi-annually. if the bond (payment) rate is stated at 7%, and the bonds call for semi-annual payments, what is the amount of those payments? O a. $350,000 O b. $70,000 OC. $35,000 d. $700,000Without using excel, answer the question: The City of State College plans to issue bonds with a par value of $12,000 that will issue 6% quarterly payments for 3 years. If a purchaser wants earn 7% per quarter over the lifetime of the bond, how much would the purchaser be willing to pay for the bond?
- Union Local School District has bonds outstanding with a coupon rate of 3.6 percent paid semiannually and 12 years to maturity. The yield to maturity on these bonds is 2.4 percent and the bonds have a par value of $5,000. What is the price of the bonds?The City of State College plans to issue bonds with a par value of $12,000 that will issue 6% quarterly payments for 3 years. If a purchaser wants earn 7% per quarter over the lifetime of the bond, how much would the purchaser be willing to pay for the bond?Luther Industries needs to raise $25 million to fund a new office complex. The company plans on issuing ten-year bonds with a face value of $1000 and a coupon rate of 6.6% (annual payments). The following table summarizes the YTM for similar ten-year corporate bonds of various credit ratings: Rating AAA AA A BBB BB YTM 6.73% 6.93% 7.03% 7.43% 7.93% Assuming that Luther's bonds receive a AAA rating, the price of the bonds will be closest to: O A. $1,189 O B. $1,387 O C. $991 O D. $793
- Union Local School District has a bond outstanding with a coupon rate of 2.9 percent paid semiannually and 24 years to maturity. The yield to maturity on this bond is 3.4 percent, and the bond has a par value of $10,000. What is the price of the bond?The Pharoah Department of Transportation has issued 25-year bonds that make semiannual coupon payments at a rate of 10.425 percent. The current market rate for similar securities is 10.30 percent. Assume that the face value of the bond is $1,000. Excel Template (Note: This template includes the problem statement as it appears in your textbook. The problem assigned to you here may have different values. When using this template, copy the problem statement from this screen for easy reference to the values you've been given here, and be sure to update any values that may have been pre-entered in the template based on the textbook version of the problem.) Problem 8.29 a-d (Excel Video)(a) Your answer is incorrect. What is the current market value of one of these bonds? (Round answer to 2 decimal places, e.g. 15.25.) Current market value $The Pharoah Department of Transportation has issued 25-year bonds that make semiannual coupon payments at a rate of 10.425 percent. The current market rate for similar securities is 10.30 percent. Assume that the face value of the bond is $1,000. Excel Template (Note: This template includes the problem statement as it appears in your textbook. The problem assigned to you here may have different values. When using this template, copy the problem statement from this screen for easy reference to the values you've been given here, and be sure to update any values that may have been pre-entered in the template based on the textbook version of the problem.) Problem 8.29 a-d (Excel Video)(a) ✓ Your answer is correct. What is the current market value of one of these bonds? (Round answer to 2 decimal places, e.g. 15.25.) Current market value $ eTextbook and Media Using multiple attempts will impact your score. 50% score reduction after attempt 2 Problem 8.29 a-d (Excel Video)(b) ✓ Your answer…