Market price of buner bonds

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Reference no: EM13129674

Buner Corporation's outstanding bonds have the following characteristics:

Years to maturity 6.0
Coupon rate of interest 8.0%
Face Value $1,000

If investors required a rate of return equal to 12 percent on similar-risk bonds and interest bonds and interest is paid semiannually, what should be the market price of Buner's bonds?

Reference no: EM13129674

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