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Cullumber, Inc., has issued eight-year bonds with a coupon rate of 6.055 percent and semiannual...

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Cullumber, Inc., has issued eight-year bonds with a coupon rate of 6.055 percent and semiannual coupon payments. The market's required rate of return on such bonds is 7.950 percent. (a) Your answer is correct What is the market price of these bonds? (Round answer to 2 decimal places, e.g. 15.25.) Market price $ 889.39 eTextbook and Media Attempts: 1 of 2 used (b) If the above bond is callable after five years at an 8.5 percent premium on the face value, what is the expected return on this bond? (Round answer to 4 decimal places, e.g. 15.2505%.) Expected return 96

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