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Madsen Motors's bonds have 7 years remaining to maturity. Interest is paid annually; they have a...

Madsen Motors's bonds have 7 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 7.5%; and the yield to maturity is 12%. What is the bond's current market price?

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SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

As nothing was mentioned excel is used. If you need with formula, let me know, will do that also. Thank you.

jeff jeffy answered 1 year ago
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