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Amcor limited has a corporate bond outstanding with a 7

Question:

AMCOR Limited has a corporate bond outstanding with a 7% coupon, semi-annual interest, 15 years to maturity and a face value of $1,000. Similar bonds currently yield 13%.

By prior agreement, the company will skip the coupon payments in years 6, 7 and 8 (6 payments in total; the payments at time 6 through to 8.5). These payments will be repaid, without interest, at maturity.

What is the corporate bond's value (the price for AMCOR's bond)?

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Finance Basics: Amcor limited has a corporate bond outstanding with a 7

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Finance Basics: Amcor limited has a corporate bond outstanding with a 7

Reference No:- TGS01647227

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