Problem:
Two-years ago, a company sold a $250 million bond issue to finance the purchase of new jet airliners. These bonds were issued in $1000 denominations with an original maturity of 12 years and a coupon rate of 12%.
Required:
Question: Determine the value today of one of these bonds to an investor who requires a 14% rate of return on these securities.
Note: Please show guided help with steps and answer.