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Business, 21.02.2020 02:22 shygorringe

Bonner Metals wants to issue new 18-year bonds for some much-needed expansion projects. The company has bonds with an 11 percent coupon rate on the market that sell for $1,459.51. The bonds make semiannual payments, and mature in 18 years. What should the coupon rate be on the new bonds if the firm wants to sell them at par?

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Bonner Metals wants to issue new 18-year bonds for some much-needed expansion projects. The company...
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