Question
Kilgore Natural Gas has a $1,000 par value bond outstanding that pays 13 percent annual interest....
Kilgore Natural Gas has a $1,000 par value bond outstanding that pays 13 percent annual interest. The current yield to maturity on such bonds in the market is 14 percent. Compute the price of the bonds for these maturity dates: (Do not round intermediate calculations. Round your final answers to 2 decimal places. Assume interest payments are annual.)
bond price for 25 years:
bond price for 16 years:
bond price for 1 year:
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