The brownstone corporations bonds have 5 years remaining to, Financial Management

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The brownstone corporations bonds have 5 years remaining to

The Brownstone Corporation’s bonds have 5 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value, and the coupon interest rate is 9%.

a. What is the yield to maturity at a current market price of:

(1) $829 or (2) $1,104?

b. Would you pay $829 for one of these bonds if you thought that the appropriate rate of interest was 12%—that is, if rd 12%?

Explain your answer and show process,

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