(Solved by Humans)-Assume that Acquire Ltd. wants to raise capital by issuing a
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?Assume that Acquire Ltd. wants to raise capital by issuing a $48,000,000 mortgage bond. A brokerage firm that raises market capital for Acquire Ltd. estimates that the10-year bond will need a stated annual interest rate of 8.0%. Semi-annual interest payments are made on January 31 and July 31 each year. The brokerage firm also charges 2.5% of face value for commission and administration charges. This bond is sold to the primary market on February 1 with an effective interest rate of 10.0%. How much cash will Acquire Ltd. receive from the sale of this mortgage bond (rounded to the nearest ten thousand)?
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This question was answered on: 10 May, 2025
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