Friday, 4 October 2019

LMB Inc. recently issued noncallable bonds that mature in 15 years. They have a par value of $1,000 and an

LMB Inc. recently issued noncallable bonds that mature in 15 years.  They have a par value of $1,000 and an annual coupon of 5.4%.  If the current market interest rate is 6.7%, at what price should the bonds sell?

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