The bond pays annual coupon payments

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Reference no: EM132053115

In the financial section of your local paper, you see the following bond quotation:

Company: Walmart

RATE: 6.0%

MATURITY: May 8, 2019

BID: 94.07

ASK; ???

CHG: 2

ASK YLD: 8%

Assume that today’s date is May 8th, 2017 and the bond pays ANNUAL coupon payments. If you want to purchase this bond, what is the price you need to pay? Please show work(not excel)

Reference no: EM132053115

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