FIN 334 Fine Fishing Lures (FFL) has an outstanding bond with a $1,000…..XLSX

FIN 334 Fine Fishing Lures (FFL) has an outstanding bond with a $1,000….


Fine Fishing Lures (FFL) has an outstanding bond with a $1,000 face value and a 9 percent coupon rate of interest (paid semiannually). The bond, which was issued 22 years ago, matures in eight years. If investors require a return equal to 4 percent to invest in similar bonds, what is the market value of FFL’s bond?
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