Fresh water inc sold an issue of 7-year 1000 par value, Financial Management

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Fresh water inc sold an issue of 7-year 1000 par value

Fresh Water, Inc. sold an issue of 7-year $1,000 par value bonds to the public. The bonds have a 9.14 percent coupon rate and pay interest annually. The current market rate of interest on the Fresh Water, Inc. bonds is 8.04 percent. What is the current market price of the bonds?

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Financial Management: Fresh water inc sold an issue of 7-year 1000 par value

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Financial Management: Fresh water inc sold an issue of 7-year 1000 par value

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