(Solved): The International Publishing Group is raising \( \$ 10 \) million by issuing 15-year bonds with a co ...

The International Publishing Group is raising \( \$ 10 \) million by issuing 15-year bonds with a coupon rate of 10.20 percent. Coupon payments will be made annually. Investors buying the bonds today will earn a yield to maturity of 10.20 percent. The Face Value of each bond is \( \$ 1,000 \). At what price will the bonds sell in the marketplace? Sale value