Northrop Real Estate Company management is planning to fund a development project by issuing 10-year zero-coupon bonds

$1.49 Excluding Tax

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QUESTION:

Northrop Real Estate Company management is planning to fund a development project by issuing 10-year zero-coupon bonds with a face value of $1,000. Assuming semiannual compounding, what will be the price of these bonds if the appropriate discount rate is 14 percent?


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