Tlc enterprises has bonds on the market making semiannual, Financial Management

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Tlc enterprises has bonds on the market making semiannual

TLC Enterprises has bonds on the market making semiannual payments, with 16 years to maturity, and selling for $859.16. At this price, the yield to maturity on the bond is 12%.

a) What is the coupon rate on this bond?

b) Why is it that TLC bonds are sold at a price below its par value?

c) Suppose that you buy one bond today for $859.16. A year later, you would like to sell the bond. The market yield to maturity on comparable bonds is 13.5%. What will be the price of the bond at that time?

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