Complex Systems has an outstanding issue of $1,000- par-value bonds with a 12% coupon interest rate. The issue pays interest annually and has 16 years remaining to its maturity date. If bonds of similar risk are currently earning a 10% rate of return, how much should the Complex Systems bond sell for today?
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Complex Systems has an outstanding issue of $1,000- par-
interest rate. The issue pays interest annually and has 16 years remaining to its maturity
date. If bonds of similar risk are currently earning a 10% rate of return, how much should
the Complex Systems bond sell for today?
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