Compute the value of pet food company bonds

Reference no: EM132032314

Question: Pet Food Company bonds pay an annual coupon rate of 10.44 percent. Coupon payments are paid semiannually. Bonds have 3 years to maturity and par value of $1,000. Compute the value of Pet Food Company bonds if the market interest rate on this type of bond is 10.18 percent. Round the answer to two decimal places.

Reference no: EM132032314

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