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Find the current value of each Hewitt bond

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Reference no: EM132983723

Question - Hewitt Packing Company has an issue of? $1,000 par value bonds with a 14 percent annual coupon interest rate. The issue has ten years remaining to the maturity date. Bonds of similar risk are currently selling to yield a 12 percent rate of return. Find the current value of each Hewitt bond?

A. ?$1,113.00

B. ?$1,052.24

C. ?$791.00

D. ?$1,000

Reference no: EM132983723

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