Chopper Internationals bond has a 12.80% coupon and a maturity value of $1,000. The bonds,...
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Accounting
Chopper Internationals bond has a 12.80% coupon and a maturity value of $1,000. The bonds, which pay interest semi-annually, will mature in 25 years. If you require a pre-tax return of 15.5% on bonds of this risk, how much would you pay for one of these bonds after 6 years?
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