Fresh water inc sold an issue of 23-year 1000 par value, Financial Management

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Fresh water inc sold an issue of 23-year 1000 par value

Fresh Water, INC. Sold an issue of 23-year $1,000 par value bonds to the public. The bonds have a 9.90% coupon rate and pay interest annually. The current market rate of interest on the Fresh Water, INC bonds 9.17%. What is the current market price of the bond?

Round answer two decimal places.

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Financial Management: Fresh water inc sold an issue of 23-year 1000 par value

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Financial Management: Fresh water inc sold an issue of 23-year 1000 par value

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