On 2/25/2016 JNJ issued a bond with coupon of 2.45%, face value of $2 Billion,...
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Accounting
On 2/25/2016 JNJ issued a bond with coupon of 2.45%, face value of $2 Billion, with maturity set for 3/1/2026. (a) Based on JNJs 10-K for fiscal 2016 (12-month period ending on 1/1/2017), what was the amount raised by JNJ when the bonds were issued? (b) Were these bonds issued at a discount or premium? (c) How much was the discount or premium? (From here on by the term JNJs bonds I mean these bonds only.)
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