Issuing eight-year bonds with coupon rate

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Reference no: EM131348788

Marshall Company is issuing eight-year bonds with a coupon rate of 5.28 percent and semiannual coupon payments. If the current market rate for similar bonds is 7.91 percent. What will be the bond price? (Round intermediate calculations to 5 decimal places, e.g. 1.25145 and bond price to 2 decimal places, e.g. 15.25.)

If company management wants to raise $1.25 million, how many bonds does the firm have to sell? (Round intermediate calculations to 5 decimal places, e.g. 1.25145 and number of bonds to 0 decimal places, e.g. 5,275.)

Reference no: EM131348788

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