At what price will the bonds sell in the marketplace

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Reference no: EM13268117

The International Publishing Group is raising $10 million by issuing 15-year bonds with a coupon rate of 11.02 percent. Coupon payments will be made annually. Investors buying the bonds today will earn a yield to maturity of 11.02 percent. At what price will the bonds sell in the marketplace?

Reference no: EM13268117

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