This means the bonds will have to be offered to yield


Daubert, Inc., planned to issue and sell at par 10-year, $1,000 face value bonds totaling $400 million next month. The bonds have been printed with a 6% coupon rate. Since that printing, however, Moody's downgraded Daubert's bond rating from Aaa to Aa. This means the bonds will have to be offered to yield buyers 6.6%. How much less than it expected will Daubert collect when the bonds are issued? Ignore administrative costs and commissions. Assume bond coupons are paid semiannually. Round the answer to the nearest dollar.

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Financial Management: This means the bonds will have to be offered to yield
Reference No:- TGS02812880

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