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The Florida Investment Fund buys 58 bonds of the Gator Corporation through a broker. The bonds pay 10 percent annual interest. The yield to maturity (market rate of interest) is 12 percent. The bonds have a 10-year maturity. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods.
Using an assumption of semiannual interest payments:
a. Compute the price of a bond
b. Compute the total values of the 58 bonds
Karlik Enterprises distributes a single product whose selling price is $16.70 and whose variable expense is $10.20 per unit. The company’s monthly fixed expense is $19,500. Calculate the company’s break-even point in unit sales.
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