Bright Sun, Inc. sold an issue of 30-year $1000 par value bonds to the public. The bonds had a 7.13 percent coupon rate and paid interest annually. It is now 19 years later. The current market rate of interest on the Bright Sun bonds is 9.94 percent. What is the current market price (intrinsic value) of the bonds?
Bright Sun, Inc. sold an issue of 30-year $1000 par value bonds to
the public. The bonds had a 7.13 percent coupon rate and paid interest annually. It is now 19 years later. The current market rate of interest on the Bright Sun bonds is 9.94 percent. What is the current market price (intrinsic value) of the bonds?
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