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Homework answers / question archive / Daubert, Inc
Daubert, Inc., planned to issue and sell at par 10- year, $ 1,000 face value bonds totaling $ 400 million next month. The bonds have been printed with a 6% coupon rate. Since that printing, however, Moodys downgraded Dauberts bond rating from Aaa to Aa. This means the bonds will have to be offered to yield buyers 7%. How much less than it expected will Daubert collect when the bonds are issued? Ignore administrative costs and commissions.
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