A tax-exempt bond was recently issued at an annual 8, Financial Management

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A tax-exempt bond was recently issued at an annual 8

A tax-exempt bond was recently issued at an annual 8 percent coupon rate and matures 20 years from today. The par value of the bond is $5,000

a) if the required market rates are 8 %, what is the market price of the bond?

b) if the required market rates fall 4 %, what is the market price of the bond?

c) if the required market rates rise 12%, what is the market price of the bond?

d) At what required market rate % (8, 4, 12,) does the above bond sell at discount?

e) At what Premium?

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Financial Management: A tax-exempt bond was recently issued at an annual 8

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