NewAge, Inc. bonds were issued 3 years ago. They were originally issued with 15 years...
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Finance
NewAge, Inc. bonds were issued 3 years ago. They were originally issued with 15 years to maturity. They have a coupon rate of 5% which is paid semiannually, and a par value of $1000. If the required return on these bonds right now is 5.5%, compute the price of these bonds.
A) $949.38
B) $974.74
C) $956.50
D) $605.45
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