Dufner Co. issued 13-year bonds one year ago at a coupon rate of 7 percent. The bonds make semiannual payments. f the YTM on these bonds is 5.3 percent, what is the current dollar price assuming a par value of $1,000? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Dufner Co. issued 13-year bonds one year ago at a coupon rate of 7 percent. The bonds
make semiannual payments.
If the YTM on these bonds is 5.3 percent, what is the current dollar price assuming a par
value of $1,000? (Do not round intermediate calculations and round your answer to 2
decimal places, e.g., 32.16.)
Transcribed Image Text:Dufner Co. issued 13-year bonds one year ago at a coupon rate of 7 percent. The bonds make semiannual payments. If the YTM on these bonds is 5.3 percent, what is the current dollar price assuming a par value of $1,000? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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