7 years ago delicious mills inc issued 30-year to maturity


7 years ago, Delicious Mills, Inc. issued 30-year to maturity bonds that had a 10.17 percent annual coupon rate, paid semiannually. The bonds had a $1,000 face value. Since then, interest rates in general have changed and the yield to maturity on the Delicious Mills bonds is now 12.60 percent. Given this information, what is the price today for a Delicious Mills bond?

Round the answer to two decimal places.

Request for Solution File

Ask an Expert for Answer!!
Financial Management: 7 years ago delicious mills inc issued 30-year to maturity
Reference No:- TGS01218665

Expected delivery within 24 Hours