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How much can the debentures be issued for

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Reference no: EM132598469

Polycorp is about to issue debentures. The following information is available.

1. The coupon rate is 8% pa (or .08). Coupons are paid annually

2. The yield to maturity (YTM) is 0.09 pa

3. The face value is $100

4. The term is 3 years

Question 1: How much can the debentures be issued for? Your answer should be accurate to the nearest cent. Note that the YTM is expressed as a decimal, so .06 is 6% pa.

Reference no: EM132598469

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