Waterford corporation is planning on issuing bonds

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Reference no: EM131906743

The Waterford Corporation is planning on issuing bonds that pay no interest but can be converted into $1000 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 10%, compound annually. At what prices should the Waterford Corporation sell these bonds?

Reference no: EM131906743

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