Solved: Compute the price of a 8827 par value 13 percent coupon, Business Management

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Compute the price of a 8827 par value 13 percent coupon

Compute the price of a $ 8,827 par value, 13 percent coupon consol, or perpetual bond (i.e., coupon interest payment is a perpetuity), assuming that the yield to maturity on the bond is 9 percent. (Round your answer to 2 decimal places and record without dollar sign or commas).

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Business Management: Compute the price of a 8827 par value 13 percent coupon

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