Current market rate of interest on the bright sun bonds

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Reference no: EM131047404

Bright Sun, Inc. sold an issue of 30-year $1,000 par value bonds to the public. The bonds had a 11.99 percent coupon rate and paid interest annually. It is now 12 years later. The current market rate of interest on the Bright Sun bonds is 10.39 percent. What is the current market price (intrinsic value) of the bonds?

Reference no: EM131047404

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Current market rate of interest on the bright sun bonds : Bright Sun, Inc. sold an issue of 30-year $1,000 par value bonds to the public. The bonds had a 11.99 percent coupon rate and paid interest annually. It is now 12 years later. The current market rate of interest on the Bright Sun bonds is 10.39 perce..

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