Finding out the current value of bond, Finance Basics

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Finding out the current value of bond

Problem:

Due to numerous lawsuits, a major chemical manufacturer has recently experienced a market reevaluation. The firm has 15 year, 8% semiannual coupon bonds. The required nominal rate on this debt has now risen to 16%.

Please answer the given question:

Question: What is the current value of this bond?

Note: Please provide reasons to support your answer.

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Finance Basics: Finding out the current value of bond

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Finance Basics: Finding out the current value of bond

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