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Please Show Workconsider The Following Details For A Bond Issued By Bravo

Question

PLEASE SHOW WORK

Consider the following details for a bond issued by Bravo

Incorporated:

Issue Date

8/5/2000

Maturity Date

8/5/2030

Annual Coupon Rate (ANNUAL coupons)

9%

Face Value

$1,000

Suppose that today’s date is 8/5/2004. What should the current trading price be for this bond if investors want a 12% ANNUAL return? (Show your work. Label $. Two decimal places required. Highlight or bold your answer.)

PLEASE SHOW WORK

Finance