Corporate Bond Issued by Johnson Company

Corporate Bond

Corporate Bond Issued by Johnson Company for $3 Only (Instant Download)

(10 points) You just bought a corporate bond issued by Johnson Company with $1,000 par value, 8 percent annual coupon interest rate paid semi-annually, and 15 years to maturity. The current market interest rate is 12%. You plan to sell this bond at the end of four years when market interest rate falls to 6%. What will be the market value of this bond when you sell in four years? You must show work to get full credit.

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