Planning on issuing bonds

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Reference no: EM131806175

The Latham Corporation is planning on issuing bonds that pay no interest but can be converted into ?$1,000 at? maturity, 7 years from their purchase. To price these bonds competitively with other bonds of equal? risk, it is determined that they should yield 9 ?percent, compounded annually. At what price should the Latham Corporation sell these? bonds?

The price of the Latham Corporation bonds should be ?__________ ?(Round to the nearest? cent.)

Reference no: EM131806175

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