What will be the current market price of the firms bond

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Reference no: EM132044427

Pullman Corp issued 1-year bonds four years ago with a coupon rate of 11.07 percent. At the end of issue, the bonds sold at par. Today bounds similar risk and maturity must pay an annual coupon of 5.97 percent to sell at par value. Assuming semiannual coupon payment, what will be the current market price of the firms bond? Help with how to use financial calculator will be appreciated.

Reference no: EM132044427

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