Multiple Choice
On January 2, 2019, Wine Corporation wishes to issue €3,000,000 (par value) of its 8%, 10-year bonds. The bonds pay interest annually on January 1. The current yield rate on such bonds is 10%. Using the interest factors below, compute the amount that Wine will realize from the sale (issuance) of the bonds.
A) €3,000,000
B) €2,631,204
C) €3,000,018
D) €3,318,078
Correct Answer:
Verified
Correct Answer:
Verified
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