Multiple Choice
On January 1, 2005, Systil Corporation issues $50M 10 year bonds with a coupon rate of 10%. Interest is payable annually at the end of the year. If the required return on bonds of similar risk at January 1, 2006 is 8%, what will be the price of the bonds be at this date?
A) $56.71M
B) $56.25M
C) $44.24M
D) $43.86M
Correct Answer:
Verified
Correct Answer:
Verified
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