What is the current price of a debenture with a $51, 800, 000 face value, a coupon rate of 9.2 % paid semi-annually, 8 years remaining to maturity and a market interest rate of 10.74 %? (Please round your answer to two decimal places).

What is the current price of a debenture with a $51, 800, 000 face value, a coupon rate of 9.2 % paid semi-annually, 8 years remaining to maturity and a market interest rate of 10.74 %? (Please round your answer to two decimal places).

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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