Principles of Accounting Volume 1
19th Edition
ISBN: 9781947172685
Author: OpenStax
Publisher: OpenStax College
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Transcribed Image Text:Westco Company issued 15-year bonds a year ago at a coupon rate of 5.4 percent. The bonds make semiannual payments and have a
par value of $1,000. If the YTM on these bonds is 4.5 percent, what is the current price of the bond in dollars?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.
Current bond price
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