AMACK & Co would like to call in one of their outstanding bonds
AMACK & Co would like to call in one of their outstanding
bonds. The company has a 6% coupon bond that matures in 11 years. The bond pays interest semiannually with a face value of $1,000 and interest rate at 13%. How much will it cost AMACK & CO to call in $1,000 of these bonds?