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At what price should the bond be sold

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Reference no: EM133058187

Question - An outstanding bond from, "The International Flour Mill" Company Limited, a grain grinding manufacturer was issued on 01st February 2015. It has a coupon interest of 5% that is paid semi-annually, a par value of $1,000 and will mature ten (10) years from the issue date. The required rate of return for similar investments is currently 7%. At what price should the bond be sold on 31st January 2019?

Reference no: EM133058187

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