Find current value of securities

Reference no: EM1364142

A major chemical manufacturer has experienced a market re-evaluation lately due to a number of lawsuits. The firm has a bond issue outstanding with 15 years to maturity and a coupon rate of 8 percent (paid semiannually). The par value of each bond is $1,000. The required rate has now risen to 16 percent. What is the Current value of these securities?

Reference no: EM1364142

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