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IBM currently has one bond in the Liabilities section of its Balance Sheet. This 10-year bond with 6 years to maturity and a 5.5% coupon paying semi-annually, has a yield to maturity (NOTE: the cost of this form of debt capital for IBM) of 4.25%. What is the current price of the bond if par value is $1,000?

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IBM currently has one bond in the Liabilities section of its Balance Sheet. This 10-year bond with 6 years to

maturity and a 5.5% coupon paying semi-annually, has a yield to maturity (NOTE: the cost of this form of debt capital for IBM) of 4.25%. What is the current price of the bond if par value is $1,000?

 
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