Fresh water inc sold an issue of 22 year 1000 par value, Financial Management

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Fresh water inc sold an issue of 22 year 1000 par value

Fresh water inc sold an issue of 22 year $1000 par value bonds to the public. The bonds have a 7.47 percent coupon rate and pay interest annually. The current market rate of interest is 12.85 percent. What is the current market price of the bond?

Round the answer to two decimal places.

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Financial Management: Fresh water inc sold an issue of 22 year 1000 par value

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Financial Management: Fresh water inc sold an issue of 22 year 1000 par value

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