Outstanding bonds with a coupon rate

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The McDonnell Company has outstanding bonds with a coupon rate of 6.75% and semi-annual payments. The bonds are redeemable at their face value on December 30, 2032. If Weege can earn 5% on comparable investments and settle the transaction on March 24, 2015, how much should he be willing to pay per $100 of face value for the bond? (Round Your Answer to 2 Decimal Places)

Reference no: EM13763185

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