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Bond Valuation with Annual Payments Jackson Corporation's bonds have 14 years remaining to maturity. Interest is...

Bond Valuation with Annual Payments

Jackson Corporation's bonds have 14 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value, and the coupon interest rate is 11%. The bonds have a yield to maturity of 12%. What is the current market price of these bonds? Do not round intermediate calculations. Round your answer to the nearest cent.

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Answer #1

Pmt If Annual Coupon Nper Pmt 14 Nper Pv $ 1000*0.11 payment Number of periods Present value Face value YTM 110.00 0.12 1,000

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